The City of Saskatoon maintains flood risk information for properties near the river and low-lying areas, and insurers use exactly that kind of risk mapping to price an overland flood endorsement, so two similar homes a few blocks apart can see very different quotes for the same coverage.
A $400 to $600 home inspection will not test for flood risk specifically, so ask your insurer directly for a flood-specific quote on any property near the riverbank or in a low spot before you rely on the standard policy alone.
Joel Dyck flags elevated flood risk on a property during his in-person review, so it is not a surprise after possession. Get your hand-reviewed valuation from Joel Dyck.