Water damage is one of the most common hazards faced by homeowners, and it is also one of the most common exclusions in homeowners insurance policies. Water damage can occur due to a variety of causes, including floods, storms, burst pipes, and leaks.
While some water damage may be covered by your homeowners insurance policy, most policies exclude coverage for certain types of water damage, such as flood damage. Are you wondering whether your policy covers water damage? Let’s discuss these water damage exclusions and what they mean for your homeowners insurance coverage.
Water damage is one of the most common claims made on homeowners insurance policies. In most cases, however, homeowners insurance will not cover water damage that is caused by gradual deterioration or poor maintenance. Be sure to check your policy carefully to see what is and is not covered.
Water damage can be very costly to repair, so it’s important to have adequate coverage in place. Otherwise, you could be left having to pay for repairs out of your own pocket.
what is considered water damage?
Some common causes of water damage that may be covered by homeowners insurance include:
- Burst pipes
- Severe weather (flooding, storms, etc.)
- Leaky roofs
- faulty appliances
- Plumbing leaks
Again, it’s important to check your policy to see what is and is not covered. But in general, if water damage is caused by a sudden and unexpected event, it’s likely that your homeowners insurance will cover at least some of the costs.
what are water damage exclusions in most home insurance policies?
Water damage exclusions are common in home insurance policies. Water damage is typically excluded from coverage unless it is caused by a covered peril, such as a burst pipe. Other common exclusions for water damage include flooding, sewage backup, and water that seeps through the foundation. Check your policy documents to see what specific exclusions apply to your policy.
why are there exclusions to my water damage coverage?
There are a few reasons why your home insurance policy might exclude water damage. One common reason is that the damage was caused by flooding, which is typically not covered by home insurance.
Another reason might be that the damage was caused by something called “seepage and leakage.” This is when water slowly leaks into your home through cracks or holes, and over time, this can cause significant damage.
Home insurance policies typically exclude this kind of damage because it is considered to be preventable.
Finally, some policies exclude water damage caused by sewage backup or flooding from an outdoor swimming pool.
why is flooding not covered in homeowners insurance?
Flooding is not covered in homeowners insurance because it is considered to be a natural disaster. Homeowners insurance policies cover damage from events that are considered to be accidental, such as fires or burglaries. Floods are not considered to be accidental, and therefore are not covered by most homeowners insurance policies.
Some homeowners may purchase a separate flood insurance policy to cover the cost of damage from a flood. However, even with flood insurance, there may be some costs that are not covered. For example, most flood insurance policies have a deductible, which is the amount that the policyholder must pay before the insurance company will begin to pay for damages.
In addition, flood insurance may not cover the full cost of all damage that occurs. For example, it may only cover the cost of repairing the structure of the home, and not the cost of replacing personal belongings that were damaged or destroyed.
how to avoid water damage exclusions
The best way to avoid having water damage excluded from your homeowners insurance policy is to take proper precautions to prevent it from happening in the first place. This includes things like regularly maintaining your gutters and downspouts, as well as notifying your insurance company right away if you experience any water damage in your home. By taking these precautions, you can help to ensure that your homeowners insurance policy will cover any damage that does occur.
a final word
It’s important to be aware of the potential exclusions in your homeowners insurance policy when it comes to water damage. By knowing what is and isn’t covered, you can be better prepared financially in the event of a flood or other water-related disaster. Keep in mind that every policy is different, so be sure to read yours carefully and contact an agent with any questions.
At benchmark, we recommend getting the highest possible limit available to ensure you are covered from costly damages.
If you’re not sure whether your home insurance policy covers water damage, reach out to us. We can tell you what is and is not covered and help you protect your home.