The sound of a leaky faucet can keep you up at night. So too, can the thought of whether or leak faucet is something that is covered by your homeowner’s insurance.
Your home is your castle, and you need to do all that you can to protect it. That doesn’t mean building a moat around your castle – as that would put you at high risk of flooding Water damage!
What’s is the usually Covered By Homeowner’s Insurance?
The four main areas of coverage are personal property, liability, dwelling, and other structures.
Personal property is all your stuff that lives in your home – your clothes, your furniture, your electronics.
Liability coverage protects you against lawsuits for bodily injury or property damage that happens on your property. Let’s say your dog bites a neighbor’s child, and there are hospital bills to cover.
Dwelling coverage considers what it would cost to totally rebuild your home in the event of a disaster. It takes into account market-related construction material and labor costs when setting a value.
The limit of liability here generally amounts to 10% of the home’s insured value.
Water Damage Covered By My Homeowner’s Insurance?
Water damage that is considered “sudden and accidental” is usually covered by your homeowner’s insurance. So if you leave that leaky faucet alone for too long, and your insurers can show neglect on your part, you wouldn’t be covered.
Strangely enough, the same goes for burst pipes. If you purposefully turn off a heat pipe in your house to save money and come home to a frozen pipe that has burst, chances are that your claim will be denied, as you could have done something to prevent this from happening.
General wear and tear claims are covered. This would include scenarios such as your wooden floorboards being ruined because your washing machine or dishwasher broke unexpectedly, flooding the house. It’s worth noting here that repairing the broken appliance would be covered by something called a homeowner’s warranty.
Water damage hail rains down on your home, shattering glass windows. Or during storm damage.If you let the problem worsen, you’re in for a tougher job claiming on the policy.
Water damage after what is covered, If the fire department were hosing everything down in an attempt to put out a fire – or if a smoke alarm sets off a water sprinkler – then your homeowner’s insurance policy should cover that.
Not Usually Covered?
Standard homeowner insurance policies usually exclude the damage caused by natural disasters. Suppose you live in an area where there is a high risk of earthquakes, tsunamis, floods, or hurricanes. In that case, you need to look into buying separate insurance coverage for these potential eventualities.
Water damage from sewer is not covered. Like most insurance coverage, if you want it covered, you can either specify it or seek an additional policy to cover it.
It’s also important to remember that you sign a homeowner’s policy often amidst the thrill of buying a home without reading the policy’s specific details. Homeowner’s insurance is generally a legal requirement, especially when your purchase involves the bank and a home loan. The bank wishes to protect its assets – and so should you.
Understanding how your homeowner’s insurance policy covers you in the event of property damage is your first step towards peace of mind.
How Restoration 1 of Tulsa Can Help
Restoration 1 of Tulsa is highly proficient in mitigating the kind of water-related damage that we’ve addressed above. This means we can stay on top of the maintenance of your home so that you don’t have to. This will ensure that your insurance can’t give you a hard time when it comes to submitting your next claim.
Specializing in Oklahoma disasters, Restoration 1 water damage experts are also your best choice. There is no way to perform safe and successful water restoration without training. It simply does not pay to do it yourself.
Play it safe. Call the professionals at Restoration 1 of Tulsa. If you have any questions about water damage restoration, please contact us 24/7.
