Water can be very destructive to your home and your belongings. Not only can it damage floor coverings and wall boards, but it can also damage electronics, cabinetry, electrical wiring, furniture, and more. Not to mention, water damage can fuel the proliferation of disease-causing mold.
If you do not live in a flood prone-area, you might wonder if this type of coverage is for you. Maybe you assume your homeowners insurance will pick up the tab for any major water damages you experience. Continue reading to learn more about what types of water damage you might be exposed to and whether or not they are covered.
Homeowners Insurance and Water Damage Coverage
The details of your homeowners insurance policy will outline any water damage protection it provides. Typically, this includes coverage for overflows, leaks, and failures that lead to sudden water “accidents.” Examples might include the damage caused by a leaking pipe or a burst water heater. In these scenarios, homeowners insurance might pay to replace flooring or wall coverings affected by water damage, but it would not pay to replace the water heater itself. Furthermore, water damage claims may be denied if the insurance company determines it is a result of poor, or lack of proper maintenance.
Are You at Risk of Sewer and Drain Backup?
Many homeowners are unaware that they are responsible for the upkeep of the main sewer line that runs to the edge of their property. When working properly, these systems go largely unnoticed. If there is a pipeline failure, however, you will notice it quickly.
According to the Insurance Institute for Business and Home Safety, drain system failures are among the top five causes of water-related losses in U.S. homes. The damages can cost thousands of dollars for professional clean-up, repair, and remediation. Backup-related water damage is not covered under standard homeowners insurance, but coverage is available in the form of an endorsement added to your policy. Contact the team here at Heinen Insurance for more information and to find out if backup protection is right for you.
What if It Floods?
There are many different causes of flooding, some of which include:
- Heavy rain
- Melting snow
- Flooding after wildfires
- Changes in drainage systems during construction
- Dam and levee failure
- El Niño
- And more
Flooding costs the average homeowner $43,000 in damages. That’s not even the cost of a major flood, either. According to the National Flood Insurance Program, just 4 inches of water in a 2,000 square-foot home can cost more than $40K. Unfortunately, homeowners insurance does not cover damage to your home and belongings caused by flooding. For that, you need flood insurance through the National Flood Insurance Program.
Weather forecasts might warn you of possible flooding days in advance, but the real preparation begins now. Unless you experienced a recent change in flood zoning or need coverage to meet the requirements of a mortgage, you can expect to wait 30 days before your new flood insurance becomes effective. That is why sooner – not later – is preferential when it comes to purchasing flood protection.
Flood insurance is only available through a licensed agent. Contact an independent agent here at Heinen Insurance today for more information and to find out if flood insurance could be right for you. Not a homeowner? Renters may need coverage, too. Talk with an independent agent at our office about contents-only flood insurance through the National Flood Insurance Program.
Do you have flood and water damage coverage? In what areas are you vulnerable?