Does Homeowner's Insurance Cover Floods Resulting In Water Damage?
Home insurance is most useful in times of an emergency. Insurance allows you to not have to pay out-of-pocket for expenses that are related to damage to your home. However, it is important know that filing a water damage insurance claim has its good points and bad points.
The Good Points
Insurance companies will only cover certain types of water damage in Boulder, CO. If you experience a malfunctioning dishwashing, insurance will cover the costs of the damage. Unless, the damage caused by the dishwasher is the result of negligence and lack of maintenance. Another event covered by your homeowner’s insurance policy involves bursting pipes caused by below freezing temperatures.
The Bad Points
Insurance companies will not cover damage that is the result of improper maintenance. These types of water issues occur gradually and can be avoided with home maintenance. Homeowners are often shocked to find that issues that they believe are covered under their policy are not covered. For example, if you were not properly heating your home and a pipe burst, insurance would not cover the costs of damage.
Flood damage is another problem that most home insurance policies will not cover. You will need to purchase a separate insurance policy to cover flooding. This type of insurance is advised for anyone living in an area prone to flooding.
Water damage is covered by homeowner’s insurance. Unfortunately, there are some limitations to this coverage. An accident that occurs suddenly will likely get covered. However, flood damage and issues that arise from poor maintenance will not. You should also know that tt is also not uncommon for insurance companies to argue against covering incidents that you believe are covered by your policy.
SERVPRO of Lafayette / Louisvilleis your local franchise for all your home emergencies: fire and smoke damage, water damage and mold remediation. Contact us 24/7 for help at (303) 604-6607.