There are undoubtedly going to be times in every home owner’s life when they will experience a major crisis and most of these events will be covered by their home owner insurance. Floods and major water damage are not often included in most basic home owner insurance policies so, what can you do as a homeowner to protect yourself? What kinds of water damage insurance are available?
To begin with, let’s review what types of water damage may be covered under your existing home owner’s policy. The types include but are not limited to; leaks from a roof or window as long as the damage was due to a natural occurrence such as a bad wind storm or falling tree. Often, the insurance company will try to determine if the leaky roof or broken window is a result of the homeowner failing to maintain the home in which case, they will more than likely deny the claim. Also, it should be noted that most home owners insurance policies do not cover mold or any issues that arise due to mold because not only can mold cause further damage to the property but, it can also cause ill health with anything from nose bleeds to upper respiratory illnesses such as bronchitis. Also, more than likely your insurance will not cover floods so it is essential to do regular maintenance to prevent major water damage caused by floods.
Now that we know what your home owner policy does not cover, let’s find out what you can do for coverage. Private flood insurance may be available however it can be costly as it is a luxury not a necessity. There is a better option known as National Flood Insurance Program. This is offered by the US Government and comes in three different styles which are; Dwelling Policy, General Property Policy and Residential Condominium Policy.
The Dwelling Policy covers the home owner’s home and all of the belongings inside. The General Property Policy is for owners of residential building with five or more units but it also covers the dwelling as well as the belongings inside. The last policy is specifically for residential condo associations and covers the entire building.
So now that you are aware of what your current insurance policy may cover, it may be best to make a decision on how to cover yourself in the event of water damage.
Hello, i am John and have over ten years experience in water damage clean up, water damage restoration and water damage mold. During my career i noticed that a lot of homeowners are uninformed about water damage and it's consequences. This site provides you with how-to guides and lots of information on water damage and everything what's involved.