What Will Water Damage Insurance Cover And How Much Do I Really Need?
There are a number of ways that water can damage your home, including burst pipes, ground seepage, sewage backups, and natural disasters like hurricanes or floods.
Not all instances will be covered by most homeowner’s policies so it’s important to understand what water damage to claim on insurance and what kind of coverage you really need.
When it comes to water damage what will insurance pay for is the first question most people ask
Most homeowner’s policies cover water damage that is sudden and originates inside the home.
This includes scenarios like burst pipes and water damage caused by the fire sprinkler system or by vandalism.
Damage that originates outside the home, such as water seeping in through the foundation or sewage main backups are generally not covered.
The other type of damage that is not covered by a standard homeowner’s policy is what is termed “gradual” damage
This is water damage that results from a lack of regular maintenance.
For instance, if your roof was in a state of disrepair and that lead to a leak, that wouldn’t be covered because you failed to maintain the condition of your roof.
There are additions, called endorsements or riders, that you can make to your standard policy to cover specific kinds of damage not directly covered.
Endorsements address things like mold/fungus and flooding or other natural disasters.
Whether you actually need these riders will depend on the area where you live and whether it is prone to severe weather conditions.
If you have any questions about how much water damage insurance do I need and what type you should get, you should talk with your insurance agent and be sure to ask about what type of policies are offered, what they cover and how much they cost.
Two specific areas that can be particularly challenging for homeowners are mold damage and flooding
You’ll want to pay specific attention to what is and isn’t covered in your home insurance in these areas and figure out when it comes to water damage what to claim on insurance.
Mold/Fungi Damage – In general, mold damage will be included in your home insurance only if it stems directly from a covered loss.
Because mold remediation can be expensive, most insurers will guard against these kinds of claims by either excluding or limiting coverage or raising premiums to cover it. (https://www.naic.org/prod_serv/HMR-ZU-17.pdf)
Flood Damage – Flood damage is not covered by standard homeowner’s policies. In order to cover damage caused by flooding, you’ll need to have a separate flood policy, which can be obtained through FEMA’s National Flood Insurance Program (NFIP).
Flood insurance can be quite costly so it makes sense to determine if you are in an area that is prone to flooding before purchasing it. (https://www.floodsmart.gov/flood-insurance/requirements)
Water damage can be a real headache for homeowners, whether it is covered by your insurance or not
Fortunately, the professionals at SERVPRO have the training, expertise, and equipment to handle any problem big or small and help make your home safe again.
When it comes to water damage, the best thing you can do for your home has the right insurance coverage and call SERVPRO so you know you’re in good hands.
If you have questions?
We are always happy to help.
And we are standing by 24/7/365
Just call (954) 733-1006 and we will help you.