What Flooded Basement Causes Are Generally Covered by Home Insurance

7/9/2022 (Permalink)

Causes Of Floods That Many Policies Tend To Cover Or Not Cover

Undergoing a basement flood in North Miami Beach, FL, isn't a pleasant experience. A large amount of damage can potentially occur, especially if the water isn't properly disposed of. Because of this, turning to insurance for flood damage restoration coverage is natural. While most every home insurance policy is different, the following are the causes of floods that many policies tend to cover or not cover.

Covered Damage
If your flood was caused by an unexpected and sudden structural issue in your house, you're likely to receive help from your home insurance coverage. These are some examples of such issues:

• Burst pipe
• Ruptured water heater
• Broken hose

In order to receive any type of compensation, the damage usually has to be quick and unanticipated. This generally occurs when a structural problem develops out of nowhere. It also needs to be accidental, meaning that you had no part in knowingly creating it.

Not Covered Damage
Unfortunately, basement flood damage is more often uncovered than covered. This is most prevalent when a weather issue occurs. If your basement takes on water after a storm, it's unlikely that your policy will cover it. There are usually separate storm policies for homeowners, which are wise to invest in if you live near a coast.

The flood damage may also not be covered if it occurred gradually. Even if you only discovered the damage now, an inspection will probably be held to determine when it started.

Lastly, a flooded basement likely won't be covered if it's a result of lacking proper maintenance. You may not be a mechanic, but your insurance won't assist you if faulty maintenance caused the issue. Letting a toilet leak, for instance, is almost certain to result in uncovered damage.

As a homeowner, understanding your insurance policy is essential. If you experience a basement flood, knowing how to use your insurance can minimize your financial losses. By staying informed, you're one step closer to maintaining a safe home.