Over the past eight years, the water damage claims have risen to become 45% of all home insurance claims. Yet many policyholders are still not aware of what is covered and what is not covered in their homeowner insurance policy.
It is imperative to be aware of what is covered in your insurance policy and what is excluded with regard to water damage. Not all policies are the same and sometimes cheaper policies can make you pay for the bargain.
So, what water damage events may or may not be covered by typical homeowner insurance policy? Read on to find out.
Sudden or Accidental Damage
Standard homeowner policies provide protection from water damage in case the cause is accidental or sudden. This includes coverage if any of your appliances overflows or leaks or water line breaks. According to the Insurance Information Institute, you’ll be likely protected in certain events, for example, when an upstairs pipe bursts or water heater ruptures.
Sewer back-up involves the damage from dirty water that can come into your home from septic tanks, drains or pipes. Most of the standard home insurance policies do not include this coverage but it can be added as an optional coverage. This coverage is likely required for homeowners who are more vulnerable to back-up and flooding.
It is best to avail this coverage as the cost of adding it can be minimal compared to the cost of repairing the damage in case of any unprecedented water damage from sewer back-up.
Damage Due to Negligence
A dipping ice maker in the refrigerator, a small leak in a pipe or a leaky toilet resulting in water damage will not be covered under your homeowner insurance policy as it is considered negligence on your part.
Water from Rain
Roof leak repairs will not be covered by the insurance as it is considered a maintenance problem. However, if the damage was caused by hail, wind or rainstorm, then it will be covered under homeowner insurance policy.
Heating or Air Conditioning Unit Bursts
Typically, the homeowner insurance policy will cover water damage from heating or air conditioning unit bursts. However, in case any maintenance issue or neglect is found, then the insurance will not provide coverage.
It is important to know that no type of flood damage, whether from storms or overflowing lakes, river, oceans is covered by homeowner insurance policy.
So, if you live in an area where there are large sources of water that can potentially overflow, it is a good idea to consider flood insurance to ensure coverage.
It can be difficult to have your insurance claims accepted even when the water damage events are covered under your homeowner insurance policy. Most water damage restoration companies do not help their clients with their insurance claims.
This is what sets Superior Restoration apart from the rest. We are highly trained in negotiating insurance claims and will work with you to ensure that you get the coverage you deserve.