The country can experience a lot of flooding due to heavy rains, storms, or other natural disasters. In such incidents, homeowners may deal with property damage and losses, including the destruction of private property. When this happens, you need to understand what can be covered under your insurance policy.
Does homeowners insurance cover water damage?
Basically, your usual homeowner’s insurance plan should cover physical damage to your home and the belongings inside caused by water. This includes flooding resulting from natural disasters like storms or too much rain. But in most cases, it does not include damage as a result of flooding from rivers and lakes because an abrupt and unexpected event does not create it. If you reside in these locations, purchasing different flood insurance coverage in addition to your regular homeowner’s policy would be wise.
Homeowners insurance also does not cover damage caused by lack of upkeep, floods resulting from substandard drainage systems or sewer backups, or mold and mildew caused by inadequate ventilation. Additionally, it may not cover repair work to basements, walls, driveways, or pathways if a flood ruins them.
Lastly, homeowners insurance usually does not cover damages caused by earthquakes or sinkholes unless you have particular insurance protection.
It’s worth noting, though, that you may have to pay out of pocket before getting a reimbursement, depending on the scope of the damage and your policy restrictions. Read the policy carefully, so you understand exactly what is covered.
It’s also vital to note that certain flood-related losses can be tax-deductible, so keep all receipts associated with maintenance and repairs or replacement purchases if you’re eligible for a deduction. Looking online for restoration companies in Fort Worth with a proven track record of dealing with water damage and other disasters is a great option if you prefer to hire your own contractor to assist with repairs and water remediation.
What are the common types of losses included in an insurance claim?
The following are a few of the common types of losses that may be covered under your insurance coverage:
- Cleanup costs
This involves pumping out water from your home, removing debris and mud, mold removal or water mitigation, and other necessary services. Your insurance provider can vouch for a property damage restoration business to assist you with your cleanup efforts.
You may also choose one by yourself but be certain that the company has the experience and knowledge to do the job to avoid further damage. Continue reading to learn more about how it works.
- Repair and replacement costs
Depending on the damage severity, you may require to change or repair items in your home, including floors, walls, furniture, carpets, electrical equipment, plumbing fixtures, appliances, and cooling and heating systems. Your insurance policy will also cover any losses of important paperwork due to a flood.
- Additional living expenses
If you really need to leave your home while repair work is being done, you may be reimbursed for hotel stays, meals, and other expenses that go beyond your usual monthly spending. Your insurance provider can offer even more details on this insurance coverage.
- Personal property damage claims
You will be compensated for any personal valuables damaged or destroyed due to the flood waters, such as jewelry, clothing, electronics, artwork, and books. The amount of coverage typically depends on the limits included in your plan and the type of losses incurred.
The Bottom Line
Nobody wants to experience water damage to their home, but with the right homeowner’s insurance policy, any losses can be reduced, and repairs can often be made without too much problem. Make sure to read your coverage carefully so you have an idea of what is covered, what kind of restrictions are in place, and how you should proceed if a claim needs to be submitted.