Most homeowners do not fully understand their homeowner’s insurance coverage. They listen to their insurance agent and expect their insurance provider to have their best interests in mind. It isn’t until they have to make a claim that they realize how important it is to read the fine print on a policy. With that in mind, you should know about the types of water damage not covered by a standard homeowner’s insurance policy so you know if you need additional coverage or policies.
Damage Caused by Poor Maintenance or Unresolved Maintenance Issues
As a homeowner, you are expected to keep up with your home’s regular repair and maintenance needs. Some types of water damage are unpredictable and occur regardless of proper maintenance. For example, damage caused by a burst pipe not caused by your own action or inaction could be covered by home insurance. If a burst pipe is caused by your choice to turn the heat off in below-freezing temperatures or by an untreated minor leak, homeowner’s insurance is unlikely to pay out your claim.
Backup from an Outside Sewer or Drain
Damage caused by sewage backup is not covered by the vast majority of home insurance policies. A backup can overload your plumbing system and cause thousands of dollars of damage to your home. Despite the fact that a sewage backup often has nothing to do with a homeowner’s maintenance habits, your homeowner’s insurance policy likely excludes this damage from their standard policies. Most providers allow you to add a sewer backup rider to your existing policy.
A flood can devastate your family and leave your home condemned, but it is not covered by standard homeowner’s insurance policies. Regardless of the cause or source of the flood, your home and belongings will not be covered by home insurance if they’re damaged or ruined in a flood. If you live in a flood zone, it may be worth your while to invest in a separate flood policy. Even if you don’t live in a flood zone, a flood insurance policy can give you peace of mind.
Depending on your provider and policy, you may find that mold damage is not covered by your insurance company. If damage is caused by a leak that is covered by your insurance policy, they may pay out a resulting claim. However, even in these cases, coverage is often limited and may not cover the full value of your damaged property. In mold-prone areas like Florida, adding a mold policy to your home insurance could save you thousands.
Are you engaged in a claim dispute with your homeowner’s insurance provider? If you think your company is trying to cheat you out of what is rightfully yours, call The Monfiston Firm, P.A. at 888-988-FIRM (3476) to discuss your case.