Water Damage Insurance
What Does Water Damage Insurance Mean?
Water damage insurance is a type of coverage included in a homeowner’s insurance policy. It covers the cost of repairing a home and replacing belongings following specific types of water damage. This coverage typically applies only to sudden and accidental water damage, such as damage caused by a heavy rainstorm that destroys the roof or an appliance that unexpectedly malfunctions and floods the basement.
Insuranceopedia Explains Water Damage Insurance
Water damage resulting from an ongoing issue that could have been addressed is not covered, as the insurance company considers it negligence. For instance, if a leaky pipe eventually bursts, the resulting damage will not be covered.
Additionally, many policies do not cover flood damage, particularly in high-risk areas such as those near rivers, coastlines, or valleys. It’s important to check with your insurance company to understand what is covered under your policy.
