Does Your Homeowner's Policy Cover Water Damage?

5/7/2022 (Permalink)

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Many homeowners who experience a basement flood or water damage are concerned about the cost for a remediation and restoration company in Salt Lake City, UT. However, while the general thought is that your insurance coverage will not cover water damage, that is likely not entirely accurate.

Most homeowner's policies will cover some water damage, but it is vital to know the specifics surrounding each situation, those covered and not.

4 Situations That May Need Insurance Coverage

1. Accidental and Sudden

Most insurance companies will cover accidental or sudden water loss. Therefore, if you experience a pipe break or if your water heater suddenly failed and flooded your basement, your policy will probably cover some of the resulting damage, like structural issues or drywall damage. However, not every plan will include the damaged component or appliance that caused the problem.

2. Unresolved Maintenance Issue

Nearly all insurers will refuse to cover unresolved maintenance issues that result in a basement flood. If you know about a leak, or if you have an appliance that is well past its prime, then you will likely have to pay for any resulting damage.

3. External Flood

If you live in a flood zone, or if you are concerned about the possibility of a flood, make sure you have flood insurance. A standard homeowner's policy will not cover flood damage. While most homeowner's plans will not cover flooding, if you are in a flood zone, it is a possibility that flood coverage is regulated and required.

4. Outside Source

Sewer backups or other external causes for internal water damage are also likely not covered by your homeowner's policy. Check with your insurer to be sure.

It is vital to know what you are protected against through your standard insurance plan. If necessary, you can purchase more coverage from other insurers to ensure that your home is protected against a basement flood.

If you have concerns about your protection needs, consider talking to a remediation company in your area. They can assess your property and give you advice about possible mitigation and preventative steps you can take.