Do you know when a real estate agent’s favorite time to have their buyer tour a home is? They love to go through a home right after a healthy spring rainstorm. According to the agents, there is no better time to find out if there are any leaks affecting the home than after it rains, especially if that rain is also melting some leftover snow.
In real estate, water damage provides a great opportunity to negotiate in the buyer’s favor. In homeowner insurance, there is absolutely nothing great about water damage. In fact, far too many homeowners are disappointed to learn that the damage caused by a water leak might not be covered at all. Now that it’s spring, and water is everywhere, it’s a good time for homeowners to check for leaks throughout their home, fix any problems, and schedule preventative maintenance where possible.
What Kind of Water Damage is Covered Under Insurance?
Homeowner insurance does cover some types of water damage. Water damage from an incident that happens suddenly and unintentionally is often covered. This includes burst pipes, appliance or plumbing malfunction, putting out a fire, storm damage, and roof or gutter damage.
In all of these cases, the insurance adjuster will do a thorough evaluation to determine what is and isn’t covered. For example, if an appliance suddenly malfunctions and destroys part of your floor with water, insurance may cover the floor repair but not the cost of a new appliance. With roof and gutter damage, typically only the initial problem is covered. If you don’t quickly take steps to make repairs, the ongoing damage cannot be included in the claim.
If you experience this type of water damage, be completely honest with your agent about what happened and exactly what was affected. Never try to make a longtime problem look sudden, include something that wasn’t caused by the incident, or hide your own actions that contributed to the issue. Insurance investigators have seen it all, and it is not worth the risk of being charged with a crime.
What Kind of Water Damage is Not Covered by Homeowners Insurance?
Water damage that occurs over time or is due to negligent maintenance is not covered under homeowner insurance. This is the most important coverage element that individuals should understand on this topic. There is a misconception that someone can file a claim for everything damaged by a leak, even if that leak has been going on for a while. The reality is that the homeowner is responsible for noticing home maintenance needs and making repairs. Never try to gamble that your floors, cabinets, drywall, or fixtures will be replaced by insurance after a water leak is discovered. Save
yourself the money upfront by regularly inspecting your home’s structure for potential or early leaks. Not everyone realizes this, but home inspection professionals are not limited to the home buying process. They often help existing homeowners stay up to date with maintenance and repairs. If you aren’t sure where to look, contact us for a referral to a reputable home inspector who will help you identify current and future maintenance needs throughout your property. Water damage from flooding, earthquakes, hurricanes, or sources outside the house are usually not covered under a homeowner policy. If you are concerned about specific types of water damage from flooding or your foundation, talk to your insurance agent about your options. Some of these events can be added as an endorsement to your policy.
Maximize Savings with Preventative Maintenance
While maintaining your home doesn’t score any direct insurance discounts, it will generate long-term savings. Preventative maintenance keeps your home repair costs down, and fewer insurance claims will keep your renewal rates down as well. Catching and fixing water leaks will also provide significant savings on your water and sewage bills. It’s not just about damage; make sure your toilets, faucets, icemaker, dishwasher, and washing machine are all in good shape and not leaking water, or your precious money, down the drain.
If you’re not sure how well your home is protected under your current homeowner insurance policy, contact us. Smyrl Insurance has been working with homeowners for over 65 years to make sure their coverage is right and up to date for their circumstances. We educate, nurture, and empower people through insurance so they can make smart decisions about managing their home and property. We serve clients for homeowner, renter, auto, life, and other types of insurance needs in Hatfield, Lansdale, Souderton, Harleysville, and throughout Montgomery County, Pennsylvania.
