Will Your Homeowner’s Insurance Cover Water Damage?

2/11/2020 (Permalink)

Your homeowner’s policy will generally cover damage from internal sources

Will Your Homeowner’s Insurance Cover Water Damage?

Water damage is one of the top three contributors to residential insurance filings. Water can damage property through flooding or other external sources or from internal sources, such as a bathtub overflow or a pipe burst. If you have experienced water damage in your Kaneville, IL, home, you may be wondering what your homeowner’s insurance will cover. The short answer is: It depends.
Water-related damage is defined under two areas of insurance. Your homeowner’s policy will generally cover damage from internal sources, but if severe weather caused your basement to flood, you would not file an insurance claim with your conventional provider. This overview of water-related insurance coverage will clarify the two primary categories.

Damage From Interior Sources

If your property was damaged because of a loose appliance fitting, your homeowner’s policy would generally cover the cleanup and restoration services. These additional examples of interior sources would also be covered:

• Leaking tube from an ice maker or other appliance
  
• Overflowing toilet or bathtub
  
• Broken water pipe
  
• Leaking fish tank
  
• Leaking water heater
  
  

Filing an insurance claim is fairly straightforward. Your agent can assess the damage and initiate a claim. If you’re shopping for homeowner’s insurance, be aware that limits and deductibles can vary, and a little research can save you some money.

Damage From External Sources

If your damage resulted from floodwater entering your home, you would be covered only if you had a separate flood insurance policy at the time of the damage. The federal government issues these policies, but your insurance agent can help you file an insurance claim.
Your risk level determines your need for the specialized policy. You may be required to purchase one when you buy a property with a high risk for flooding. A land survey can help assess your risk and inform whether a policy is indicated.
If you have water damage, you'll benefit from understanding insurance coverage for water-related property damage. You will need to distinguish between internal water damage and flood damage to know which insurance entity to approach. Then, you can start down the road to restoring your home and your peace of mind.