All water damage is not the same

If you have water damage to your home because of a leak in your roof, your homeowners insurance will cover it.

If you have water damage to your home because of a broken water pipe, your homeowners insurance will cover it.

If you have water damage to your home because of a backup of your sewer or drain system, your homeowners insurance policy will NOT cover it. A special “water back up” endorsement is required. With this endorsement, your home insurance company will pay to repair the damage upto the limit of the endorsement.  To determine the limit, you need to consider things like the square footage of your home; the bigger the home, the higher the limit that you’ll need.  Do you have hardwood floors or are your floors covered by carpet or another floor covering; hardwood floors are more expensive to replace.  What is the deductible on your homeowners policy; the higher the deductible, the higher the limit should be for this endorsement.

If you have water damage to your home due to a flood, your homeowners insurance policy will NOT cover it. It requires another stand-alone flood policy.

Reviewing your insurance policy with these questions in mind will help you determine if you have all the coverage you need against water damage for a fair, competitive rate.  Call me to review your homeowners policy, and I can read all the “fine print” to be sure you don’t have any gaps in your protection.

Just like most businesses in today’s business environment affected by the pandemic, insurance companies’ new business has fallen off. They are looking for things to insure and rates are very competitive. Now is an excellent time to review your insurance coverage.  Please call me, Jim McKee at 615-377-0017.