What You Need to Know About Your Insurance Policy and Water Damage.
Should a pipe burst and send water gushing into your home, the good new is that it will almost certainly be covered by your homeowners insurance. While normally a covered peril there can, however, be some exceptions. The following are a few questions that you might have regarding your policy.
1. What Damage is Covered by My Insurance?
If you experience water damage from a broken or or even just leaky pipe, the cost of any subsequent damage will likely be covered. Check your policy for specifics, if the flood is the result of a broken pipe caused by freezing weather or a sudden accident, this will usually be included in your policy. However, you often will be required to pay for any costs related to repairing and replacing the pipe.
2. What Damage is Not Covered by My Insurance?
If the insurance company believes that the pipe has broken as a result of negligence, then you likely will be denied coverage. This could happen if you have failed to maintain your home or not taken proper precautions to prevent freezing pipes during cold weather, etc. You may also be denied if you wait too long to contact your insurance company and the damage has worsened in the meantime.
3. What Should I Do When I Discover Damage?
To prevent your insurance company from denying your claim, you need to contact them as soon as you start to notice any damage. You also should hire a professional water damage remediation company to fix both the source of the problem and any of its lasting effects, whether that be water, mold, or any other type of damage. While you wait for us to arrive, you can begin documenting any damage and/or finding any ways to prevent water from spreading.
While a flood in your home can cause a lot of worries, the claims process can go more smoothly if you take the appropriate actions. Performing regular maintenance on your home can prevent problems and will make it easier to be approved for coverage if an accident does happen.