Water can pose a serious threat to a home. Water damage can harm both the structure itself as well as the family’s possessions within the home. Damage sustained from water is unfortunately a common occurrence for homeowners. This has led many to wonder what exactly a home insurance quote will cover in regards to water damage. There are many caveats in the insurance industry relating to water damage to homes.
Determining what kind of water damage will be covered it totally dependent upon the source of the damage. For instance, a bursting pipe may lead to some significant damage to the home. This would usually be covered if the home is currently occupied as well as heated. On the other hand, if the home was not occupied and had the heating turned off, the claim would be denied.
Some homes are damaged from water seepage. This could occur especially after a rather significant rainfall. This kind of water damage is not able to be reimbursed. Insurers consider this an issue involving the maintenance of the home. It is possible to obtain additional coverage for this for an additional fee. However, it is not part of a basic home insurance policy.
Water damage from a flood is also not part of basic homeowner’s insurance. Again, to secure flood insurance additional coverage must be taken out with one’s insurer. Usually, you can find out if your home is built within a flood plain. This is a good indication as to whether or not you should take the additional flood insurance coverage. Most insurers recommend this coverage only if you live in a flood plain. Some mortgage companies will also require it if living in a flood plain. If you are in doubt regarding any aspect of your home insurance policy, speak to a knowledgeable agent from your insurance company.