Are You Protected If Your House Sustains Water Damage?
MADISON, Wisconsin (October 3, 2005) – Across the nation, torrential rain, high winds and flooding have caused costly damage to homes and businesses this summer.
If your home sustains water damage, will your homeowner's insurance policy cover the repairs? Maybe not.
"There are instances where water damage is not covered by basic homeowners' policies," says Ron Von Haden, CIC, Executive Vice President of the Professional Insurance Agents of Wisconsin (PIAW).
"If a sewer backs up and floods your basement, the damage will typically not be covered. Most homeowners' policies require a special rider to cover this type of damage. The same is true of ground water seepage and flooding from a nearby lake or river," Von Haden adds.
Primary flood damage is covered by federally subsidized flood insurance and requires a separate policy that only a fraction of homeowners hold.
Homeowners' policies typically cover wind damage, but do not cover flood damage. An exception to this would be if the flooding was a result of wind damage. For example, if high winds blew down a tree and it fell on your roof, the damage caused by the water pouring into the hole it created would be covered.
Other types of water damage are usually covered under basic homeowner's policies.
"Typically, items damaged by water will be covered, but whatever caused the damage may not be," says Von Haden.
"Damages caused by unexpected problems such as ice dams, a frozen pipe or a hose that bursts may be covered, as well as the repair to the pipe or hose, as long as your home is properly maintained. Damage caused by appliances that overflow, will also typically be covered provided the appliance was properly maintained."
It's best to know exactly what is in your homeowner's policy before disaster strikes. Von Haden recommends reviewing your policy with a Professional Insurance Agent to make sure you're adequately protected and that you understand what is and is not covered by your policy.
To locate a Professional Insurance Agent near you, look for the PIA logo or visit www.piaw.org.
For additional insurance tips and news go to www.piaw.org or information resources.
