Your homeowners insurance protects you from financial loss when certain unexpected events cause damage to your home. Water damage can be extensive when it occurs, so knowing that you have the right type of insurance in place will give you peace of mind. Only certain types of water damage are covered by your homeowners insurance. This article discusses the water damage perils covered and not covered by homeowners insurance in Amarillo, Texas.
Types of Water Damage Covered by a Homeowners Insurance Plan
Normally, your homeowners policy will cover water damage that’s not preventable. This includes malfunctions in your appliances, such as washing machines, water heaters, or dishwashers. While your policy will cover the water damage, it will not cover the cost of repairing your appliance. Your homeowners insurance will also cover burst pipes as long as the pipes were in good condition before they malfunctioned. Water damage resulting from a storm damaging your home will also be covered.
What Isn’t Covered?
Many people are often confused by the different types of coverage for water damage. One thing to remember is that if it can be prevented, your homeowner’s policy will probably not cover it. If you have neglected a plumbing issue and the leak is due to a lack of maintenance, the consequential water damage will not be covered. Sewer backups may be unexpected, but they normally occur when your drains appear to be releasing much slower than normal. Your homeowners insurance policy will not cover water damage associated with floods either. You have to purchase a separate flood insurance policy.
Perils Responsible for Maximum Homeowners Claims
Water damage is the third-leading cause of homeowners claims and is behind fire/lightning and bodily injury/property damage. Damage caused by wind and hail comes in fourth. Every homeowner’s policy has a list of perils that it covers. If you don’t understand what types of damage are associated with each peril, schedule a consultation with your insurance agent.
Having the necessary information will help you make an informed decision about your homeowners insurance. Every year or two, schedule a policy review. If you have upgraded your appliances or added a home security system with environmental controls, you may be eligible for discounts. Proactive actions can help save your money in the long run.
Some Preventive Measures to Protect Against Water Damage
You can safeguard your house from water damage in several ways. Having your pipes and appliances inspected once a year will identify any potential problems. Repairs can be conducted before a leak occurs. When the plumber is inspecting your pipes, have them clean your drains and gutters as well. This will prevent a sewer backup and eliminate any flooding that may result from a clog in one of your drains. Proper maintenance is always important. If you live in a floodplain, purchase your flood insurance before a disaster occurs.
Speak to your insurer if you have questions about the perils covered by your policy. To learn more about water damage coverage and exclusions, contact our team at the Advanced Insurance Group. Our team can customize your water damage insurance as per your needs.