When it comes to protecting your home, understanding what your insurance policy covers is crucial, especially regarding water damage. Homeowners often assume that all types of water damage are covered under their standard home insurance policy, but this is not always the case.
Types of Water Damage Covered by Home Insurance 
Standard home insurance policies typically only cover certain types of water damage. For instance, insurance may cover sudden and accidental water damage caused by burst pipes, a malfunctioning appliance or a roof leak due to a storm. If your washing machine overflows or a pipe bursts unexpectedly, your insurance policy might help cover the repair costs. However, it’s important to read your policy carefully to understand any exclusions.
What About Flood Damage?
Flood damage is a different matter altogether. Standard home insurance policies typically don’t cover flood-related damage. Floods, which can result from heavy rain, storm surges or overflowing rivers, often result in extensive and costly damage. To financially safeguard your home against flood damage, buying a separate flood insurance policy is usually necessary. This is particularly crucial if you reside in a flood-prone area.
Understanding Your Policy
It’s crucial to thoroughly review your insurance policy and understand what is and isn’t covered. While some policies might provide limited coverage for specific types of water damage, others might exclude it entirely. Additionally, specific conditions or exclusions may apply, so it’s crucial to be aware of these details.
Steps to Take
To ensure you have adequate coverage, consider the following steps:
- Review your policy. Understand the terms and conditions of your current home insurance policy.
- Assess your risk. Determine if you live in an area prone to flooding or other water-related risks.
- Purchase additional coverage. If necessary, buy additional flood insurance to cover potential flood damage.
By taking these steps, you can better protect your home and ensure you have the necessary coverage to handle any water damage.
Learn More
Contact Michelle Allen Agency Inc. to discuss your insurance portfolio today.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.