How well do you know your home insurance policy? It’s best to be familiar with all of its details before any disaster strikes.
Homeowners insurance policy: The basics
Let’s identify the two types of coverage within a homeowners insurance policy.
Dwelling coverage helps pay for damage to your home caused by a covered peril. So, if a pipe suddenly bursts and damages a wall, dwelling coverage may help pay for repairs.
Personal property coverage helps pay for damage to your belongings caused by a covered risk. So, if a pipe unexpectedly breaks and soaks your computer or bookcase, personal property coverage may help pay to repair or replace the damaged items.
What kinds of water damage are covered/not covered by a homeowners insurance policy?
Types of water damage that are not covered by a homeowners insurance policy include the following:
Gradual damage. While your insurance policy will cover the cost of repairing or replacing water-damaged floorboards due to unexpected appliance failure (i.e., a dishwasher or washing machine that suddenly malfunctioned), it will not cover damage caused by unresolved maintenance issues, also known as gradual damage. A cracked water pipe, continuously leaking toilet, and missing roof shingles are considered negligence issues and would have to be taken care of by the property owner.
Repairs on the source of the water damage. While your policy may cover the cost of replacing that water-damaged floor, for example, it would not cover the cost of fixing your broken dishwasher or washing machine.
Sewer backup. Have you noticed slow drains throughout your house, or does waste back up into another pipe when you flush the toilet or use the shower? These are signs of a sewer backup, which is rarely covered by standard home insurance policies. Thankfully, sewer backup insurance is relatively affordable and can protect homeowners from having to deal with a dangerous situation on their own.
Flooding. All kinds of flood-related damage, no matter the water source, are not covered by standard homeowners insurance policies. You may, however, purchase a flood insurance policy separately for your property’s safety and your peace of mind.
Sudden and accidental water damage - which means that the water intrusion could not have been predicted, such as a ruptured pipe that was in previously good condition - is usually covered. If this water damage results in mold, most Nashville homeowners can count on their insurance to cover mold remediation, although the extent of coverage is determined by the individual policy.
Rytech Nashville has become a leader in the water damage restoration and mold remediation industry. From its humble beginnings in one location, the company has reached exponential growth and currently provides service to 49 major markets across 25 states. Call (615) 751-8445 for more information.