Will Insurance Cover The Cost Of Fixing Water Damage?
There are many problems that come with living in your home, whether you rent or own it. A home’s water supply is one of its most fundamental tenets. The water pipes should be located on the walls, so that the drywall doesn’t obscure their existence. When one of these pipes bursts or leaks, water damage can occur in apartments and homes.
Water damage can be very costly, depending on how much insurance you have. Renter’s insurance is a must if you rent a property. This will prevent you from having to pay for property that isn’t yours. You should also make sure you have homeowner’s insurance if you are a homeowner. These policies don’t cover every possible instance of water damage. You should therefore be cautious about how you claim insurance. Continue reading to learn how much water damage could cost you and what your insurance policy covers.
What is water damage?
Water damage occurs when water damages or disrupts your home’s interior. These could be the reasons for water damage:
- Rainwater can enter your home through your roof, causing damage to your ceilings or walls.
- Hailstorms can cause your windows to burst and get the floors wet.
- A burst pipe or leaking pipe can cause damage to your ceiling and walls.
- A swollen toilet that soaks your bathroom floors.
You now know the basics of water damage and how to recognize it. Now you want to find out if your insurance policy covers it. Water damage is covered by different insurance policies. You should review the terms before you submit a plea.
Is water damage covered by renters and homeowners insurance?
It is important to know the details of homeowners’ and renters insurance policies for water damage. The insurance policies will cover water damage that occurs suddenly and seemingly out of the blue. The insurance policy won’t cover the cost of replacing damaged water pipes or washing machines. It will however cover damage caused by the source.
It is important to note that many homeowners’ and renters insurance policies do not cover flooding. These insurance policies won’t pay for repairs if your home is damaged by flooding or rains. You will need to purchase insurance policies that cover flooding.
The insurance policy will likely cover it if your home or floors are damaged by flooding. Insurance policies don’t cover water damage caused by a lack or maintenance. If you are aware of a leaky faucet and it causes damage, your insurance policy won’t cover it.
How do you get insurance to pay for water damage?
Once you are aware that water damage has occurred, you must fix it. The extent of the water damage will determine what actions you take.
1. Find the source of the water
You can cut off the main water supply if it is safe. You should also try to turn off all appliances that are connected to your water supply. Next, identify the source of the water damage. This will allow you to determine if your insurance policy covers the damage.
2. Verify whether your insurance policy is valid.
Water damage coverage
It is important to know that insurance policies will cover water damage if it occurs suddenly and unexpectedly. The insurance policy will not cover water damage that is caused by neglect or lack of maintenance.
The following list outlines the coverage for water damage that is generally covered under an Insurance Policy:
- Unexpected, accidental plumbing problems or an appliance problem
- Frozen, burst pipes
- Roof leakage
- Ice Dams
Water damage that isn’t covered
- Groundwater can get into basements
- Floodwater after a snowstorm or rapid thaw
- Leakage from old, corroded pipe.
- Leakage from an old roof that was not well maintained.
3. Call your insurance agent and file the claim
Water damage is a time-sensitive matter. You should immediately contact your insurance agent to report the claim. You can then track down water damage restoration companies that will help you repair the damage to your house. You won’t be able to fix all the plumbing and piping on your own. Your insurance company can help you locate a local company that will be able to come out to your home in just a few hours.