On February 4, 2023, Fredericton was gripped by bone-chilling cold as the Maritimes experienced record low temperatures. That night, Dr. Matthew Moore, the owner of Moore Family Dentistry, received the phone call no one wants to receive. The extreme cold had caused the pipes in his office's sprinkler system to burst, resulting in water damage throughout the practice.
Fortunately, the malfunction triggered the fire alarm, and the nearby fire department responded quickly and shut off the water—but the damage had already been done. Water had soaked in everywhere, drenching the floors, walls, and ceilings.
Recalling the moment he stepped inside, Dr. Moore vividly remembers the smell of dampness that permeated the air and seeing the lingering water on the floors. Any ceiling tiles that were still in place, showed the unmistakable signs of water stains, while others had fallen and littered the floor in the reception area.
"Those two inches of water," he explained, "can cause a lot of damage." While the landlord had already arranged for a restoration firm to start the cleanup, Dr. Moore's first call was to CDSPI to report the claim. Within hours, the claims team had put him in touch with an insurance adjuster from Crawford and Company Canada Inc., the third party administrator adjusting claims on behalf of the underwriter of the TripleGuard™ Insurance policy, Zurich Insurance Company Ltd (Canadian Branch).
Together with his dental team, Dr. Moore developed a plan to accommodate near-term patient appointments and the reopening of the clinic. They aimed to resume operations by the following Wednesday, albeit at a reduced capacity.
The insurance adjuster and Dr. Moore spoke on Monday to discuss the initial evaluation, ensuring all necessary measures were in place to expedite the cleanup and initiate the claims process. During their meeting they discussed Dr. Moore's coverage with CDSPI; “I was impressed when the adjuster shared that in his 27 years doing appraisals, ours was the best policy he had ever seen,” said Dr. Moore.
"Each of our six treatment chairs costs around $65,000 and unfortunately, two of them had to be written off due to extensive water damage in the base where all the electric components are housed." However, his TripleGuard policy’s comprehensive coverage came through. With replacement cost coverage, Dr. Moore was entitled to the full expense of replacing the two chairs with brand-new versions, unlike some other policies that factor in depreciation and offer only partial payment.
Moreover, Dr. Moore's policy also covered the business interruption caused by the two-day closure during the initial cleanup and the subsequent two-week closure for comprehensive renovations after the flood. Ultimately, the accumulated costs amounted to nearly $375,000. Remarkably, his TripleGuard policy covered the entire sum, requiring only a $1,000 deductible. Later, Dr. Moore discovered that many policies offering similar coverage would have imposed a hefty $25,000 deductible.
After finding a renovation firm and scheduling a two-week closure for early May, Dr. Moore and his staff celebrated the grand reopening of their clinic on May 24, 2023.
“I’ve learned since this incident why it so important to have an organization like CDSPI on your side. Honestly, I’d never really taken the time to study the small print in a policy but when there’s a claim, that small print can make all the difference and I’m grateful to CDSPI for negotiating such great coverage for me and all the other dentists across the country.”
Dr. Moore’s experience serves as a stark reminder of the vulnerability businesses face in the face of unforeseen disasters. However, armed with comprehensive insurance coverage and a trusted partner like CDSPI, they can navigate such challenges and emerge stronger than ever.
TripleGuard™ Insurance is underwritten by Zurich Insurance Company Ltd (Canadian Branch) and provides coverage subject to the Policy Terms and Conditions governing each plan. This is intended as a general description of certain types of coverage available to qualified customers through Zurich Insurance Company Ltd (Canadian Branch). Nothing herein should be construed as a solicitation, offer, advice, recommendation, or any other service with regard to any type of insurance product underwritten by Zurich Insurance Company Ltd (Canadian Branch). Your Policy Terms and Conditions is the contract that specifically and fully describes your coverage. The description of the policy provisions contained herein gives a broad overview of coverage for informational purposes only and does not revise or amend the Policy Terms and Conditions.