A year after record rainfall and flooding swept through British Columbia's Lower Mainland, the discussion around flood coverage and financial protection for homeowners continues to draw attention.
Despite the growing frequency of extreme weather events, many Canadians remain without flood insurance.
According to the Insurance Bureau of Canada (IBC), one in 10 households across the country lacks flood coverage. In high-risk flood zones, some insurers do not offer overland water protection, leaving many properties without access to private coverage.
CityNews reported that Canada does not yet have a national flood insurance program to support high-risk households. The IBC has been urging the federal government to create one since 2021, arguing that it is essential to protect vulnerable communities. IBC vice president of federal affairs Liam McGuinty said the bureau remains hopeful the program will be launched soon but emphasized that it must be designed to meet the needs of those most at risk.
Meanwhile, British Columbia's Minister of Emergency Management and Climate Readiness, Kelly Greene, said she has not received any updates from Ottawa on the proposed initiative. She said the province is waiting for the federal government to return to the table with updates so that British Columbia can provide input on what would work most effectively for local communities.
Without adequate coverage, many homeowners are left to pay for flood damage themselves or depend on government disaster assistance when events are deemed severe enough to qualify, according to the report.
The news outlet's analysis of data from the Vancouver Open Data Portal found that there are nearly 1,400 single-family properties located within designated floodplain areas in Vancouver. Realtors are not required to disclose whether a property is in a floodplain, and homeowners are expected to determine that risk on their own, the report added.
Mark Sakai, policy and research manager at the BC Real Estate Association, said property owners must be aware of their own exposure, as disclosure rules do not require realtors to raise the issue.
However, UBC coastal engineering professor Enda Murphy said homeowners often lack the tools and information needed to properly assess flood risk. He noted that the real estate industry does not always have an incentive to communicate such risks clearly to prospective buyers. Murphy added that homebuyers should take steps to research potential flooding hazards in any area they are considering.
The cost of being unprepared became evident last year when flooding caused more than $100 million in property damage across the region. Among those affected was West Vancouver resident Remy De Wolf, whose home was heavily damaged.
De Wolf told the news outlet that flood insurance had never been a consideration before the disaster but has since become a priority. He added that even a year later, recovery efforts are still ongoing, and that flood risk awareness will play a significant role in any future move.
