Once water damage occurs inside your property, you can have a time-consuming and worrisome situation on your hands! This article will outline what is and is not covered under home insurance, along with how to assure that you are fully protected from “h20’s decay.”

What is Homeowners Insurance?

Sometimes referred to as “hazard insurance”, homeowners insurance protects your property and other assets in case of sudden damage. It reimburses the policyholder for damage and losses to the property if you fall prey to burglary or fire. While you are completing the homebuyer process, the lender usually requires proof of homeowners insurance to acquire the mortgage. Homeowners insurance does not cover mortgage payments, but rather the losses that these events can cause.

Here are some of the common events these policies do cover:

  • Hail, lightning, wind, and fire damage
  • Property that is stolen from the inside or outside
  • Anyone that sustains an injury on the property
  • Costs for hotel stays post-damage
  • Damage from fallen objects or branches

What justifies Coverable Water Damage?

Water damage generally refers to damage on your property after a water accident. To officially qualify as water damage, moisture must exist as the primary cause of the damage. If you have pipes that have burst on the property and the entire basement is flooded, that damage is definitely water damage. If heavy rains leak through the roof and damage floors or walls and your belongings, this is water damage as well. Here are some of the most common events categorized as water damage:

  • Pipes that have burst
  • Flooding because of torrential storms
  • Backed up sewer mains
  • Leaks from a water heater
  • Cracks in the foundation from seeping moisture
  • Plumbing malfunctions

In What Instances is Water Damage Included in a Homeowners Policy?

Dwelling Coverage is one of the types of coverage included in a standard homeowners insurance policy. This protects your home from vandals, theft, fires, and storms. When water damage occurs, the coverage usually should cover the act of repairing any physical property damaged by water. If a burst pipe caused water to seep into the walls, ceilings, and floors, dwelling coverage would cover the repairs. If you do undergo damage and file a claim, most policies have a limit on the amount they will pay out.

How Will Your Belongings Make Out?

Most homeowners insurance policies will offer the inclusion of personal property coverage. This will protect your possessions from water disasters and covers elements such as clothing, electronics, and your beloved furniture. If a forceful Missouri storm causes water to leak through the roof and damage personal belongings such as furniture, your coverage will reimburse you. If you are away from your home on business or vacation and do you experience water damage you will want the peace of mind knowing that you are fully covered.

Which Type of Water Damage Incidents Are Not Covered?

Homeowners insurance may cover most types of water damage, but the following are a few scenarios that may leave you without valuable protection.

Neglecting Routine Maintenance:

If plumbing or maintenance upkeep has not been attended to, your homeowners insurance policy may not be able to cover you in case of an emergency. If a pipe bursts because of neglected plumbing over the years, you also may not benefit from coverage. It is so very important to frequently check on the pipes and plumbing in your home and make sure that everything is 100% up to par.

Drain and Sewer Issues:

If your unfortunate water damage is caused by sewers or drains, you may not benefit from coverage. If a sewer backup or clogged drain is the culprit, the insurance policy won’t cover your repairs. Here it is important to note that you won’t be fully uncovered, as backup coverage is an optional add-on to most policies. Simply check in with us here at the Alexander Agency to see what options there are for you to bypass any “backup anxiety.”

The Root Cause of Damage:

Homeowners insurance will not cover the final cost to repair or replace the water damage’s source. If a washing machine breaks down and causes the flooding, you won’t be reimbursed for an entirely new machine. You may be able to cover the cost of replacing or repairing the affected floors and tile, at least assuring that your dwelling is habitable and presentable. Following are some other scenarios where you’ll want to be sure about coverage questions:

  • Floods: When an unexpected flood renders your living area uninhabitable, it is NOT typically covered by homeowners insurance. If you happen to live in a very high-risk area, a separate flood insurance policy to protect yourself could be in order.
  • Earthquakes: Homeowners insurance will not cover earthquake damage in most cases. To be sure that you have adequate coverage, to assist with the process of structural damage recovery. One extreme value in this type of coverage is that it will entirely replace your home if it is destroyed. It will even cover damages that occur with dangerous aftershocks that can occur post-event.
  • Sump pump failures: Homeowners insurance will not cover the damage if you encounter a sump pump failure and water floods your basement.
  • Intentional damage: One of the predominant reasons that insurance investigators exist is to seek out and hone in on those who fake events to receive financial reimbursement. If you flood your basement on purpose or younger residents spray water on the walls to cause damage, you will not be covered.

Things to Consider When Choosing Water Damage Coverage:

Here are some of the items to consider while you are preparing to secure the form of water damage coverage that works for you:

Deductible Amount:

The deductible is the amount of money you’re responsible for paying before your insurance provider financially covers the rest. Much like an auto insurance policy, the higher you situate your deductible, the lower your premium payment will be. When you compare policies, it is important to think about the amount you could pay out of pocket if you encountered water damage and had to file a claim.

Coverage Limits:

The coverage limit is the maximum amount that your insurance company will pay out if there is a claim. One of the most crucial things to consider during your selection process is making sure that these limits are enough to cover the cost of any water damage you stand at risk of. It is so important to choose an insurance company that has a good track record for handling water damage claims promptly and one that has a good reputation for comprehensive performance. The many ratings and review sites online will assist you with locating a standup and well-liked provider.

We know that summer fun with water is only supposed to be OUTSIDE the house, and that it can be very daunting to see damage after mother nature strikes! All of us here at the Alexander Agency of St Charles has the knowledge and experience to assure that your interior won’t ever be sopping, and “desperation for dry confines” will not be on your worry list.