Water Damage Insurance
Water damage has become the leading cause of loss in home insurance. Today, almost 50% of home property claim payments are related to water damage.
In the past few years, water damage coverage has been reorganized to better address the various causes of damage. These coverage options are best illustrated through claims examples.
The following are examples of common water damage claims and the associated coverage needed.
Water damage results from the overflow of a bathtub or sink, disconnected hose of a dishwasher or washing machine or a broken pipe inside the home.
Coverage to respond: Most standard home policies include coverage for these damages within the basic policy.
Water penetrates the roof or walls from gutters or downspouts.
Coverage to respond: Optional Above Ground Water coverage..
Water accumulates after a heavy rain or due to melting snow and enters through cracks in the foundation, basement doors or windows.
Coverage to respond: Optional: Ground Water and Sewer coverage.
A rain storm overloads the sewer system resulting in water backing up into your basement.
Coverage to respond: Optional: Ground Water and Sewer coverage.
Water service pipe breaks. In order to repair the pipe, the city must excavate resulting in damage to lawn, gardens, walkways and/or driveways.
Coverage to respond: Optional: Water Service Pipe coverage.
An ice dam forms in the spring causing water to overflow the banks of a nearby river. This water flow reaches your property causing water to penetrate the home, either above or below ground.
Coverage to respond: Optional: Overland Water coverage. Presently, this coverage is offered by only a few insurers.
