Beneva, a Canadian mutual insurance provider, has launched a new initiative aimed at helping homeowners rebuild more sustainably after suffering damage.
The programme, called Rebuild Better, is part of the company’s broader effort to integrate eco-responsible practices into home insurance claims.
The initiative comes amid a growing need for homeowners to adapt to climate change. Extreme weather events are becoming more frequent and severe, with 2024 marking a record year for climate-related losses in Canada.
According to industry figures, such losses exceeded $8.5bn nationwide, with water damage alone accounting for 75% of claims, totalling $616m.
In response to these trends, Beneva reviewed its claims practices and created the Rebuild Better initiative to support members in rebuilding homes that are stronger and more resilient.
Beneva provides a wide range of property and casualty insurance products and operates under a mutualist model, which prioritises supporting members and sharing expertise and financial resources to enhance resilience.
The Rebuild Better advantage is automatically included in Beneva home insurance policies. It allows policyholders to make informed choices when repairing or replacing their homes following a covered loss, providing up to 50% reimbursement for additional costs associated with:
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Flooring, up to $3,000
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Roofing and exterior siding, up to $3,000
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Preventive installations such as backwater valves, leak detectors, and catch basins, up to $1,000
The initiative is designed not to increase sales but to offer practical support to members when they need it most. Beneva said it hopes the programme will ensure homes are rebuilt to better withstand future climate-related challenges.
Christian Fournier, Executive Vice-President and Leader – Property and Casualty Insurance at Beneva, said: “These trends show that rebuilding in the same way as before is no longer sufficient. We must go beyond this traditional concept of repairing to build a more resilient future. Beneva is committed to supporting its members by sharing costs and offering expertise so that every loss becomes an opportunity to better prepare for climate related challenges.”
By providing financial support and guidance, Beneva aims to turn insurance claims into opportunities for homeowners to make eco-friendly and climate-resilient improvements.
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