When Your Home Insurance Will and Won’t Cover Flood Damage
No one wants to experience water damage in their home. Even a puddle might create the risk of mold, mildew or water-weakened floorboards. Greater damage could lead to more significant problems, including structural insecurity. Preventing water damage at all costs should be your priority.
Still, you cannot prevent every instance of water damage to your home. When costly losses occur, you likely want to turn to your home insurance for help paying for repairs. Keep in mind that your policy likely won’t cover every instance of water damage. While some case have coverage, others will leave you without any luck.
Homeowner’s Coverage for Water Damage
Your home insurance can cover a lot of instances of water damage. However, it won’t cover all hazardous situations. Remember, the basic idea of insurance is to cover unavoidable or unpreventable accidents.
Most policies won’t protect you for damage you could have averted with reasonable care. For example, if you don't repair your roof or foundation for some years, it might lead to flooding in the home. This neglect might disqualify you from coverage under plan. However, if a pipe in the home bursts without warning, you might still be able to get help repairing the damage.
When in doubt, call your home insurer. They can likely help you determine if water damage qualifies for a claim. Remember, all home policies will still contain limits on how much you can receive for any given claim. Ensure your policy has adequate limits to protect the value of your property.
Specific Flood Exclusions
Many types of water damage might qualify as flooding in your mind. Yet, in the eyes of your insurer, every type of water damage differs. They often view weather-related floods differently from accidents like burst pipes.
Most home policies exclude flood damage from weather phenomena. For example, if a river rises and floods the home, it likely won’t have coverage. If rain floods through a neglected roof, that might not have coverage either. Yet, you can often take maintenance steps to prevent instances like these in the first place. Both mortgage lenders and the law might require homeowners in flood-prone areas to get flood insurance. It will usually provide more comprehensive coverage if you truly cannot avoid floods.
So, if you need home or flood insurance, contact one of our insurance agents today. However, don’t forget to work on preventing water damage in your home at the same time.