Understanding Insurance Claims

Will Homeowner's Insurance Cover Damage from Water Leaks?

Having a homeowner's insurance policy in place is vital if you are a homeowner, and this policy will likely cover a lot of different things. One thing you may wonder about is whether it will cover damage caused by a water leak. While there are times when home insurance policies do provide coverage for damage from water leaks, there are also times when most policies do not. Here are a few things you should understand about the coverage offered by most homeowner's insurance policies for damage caused by water leaks.

Water damage is one of the top causes of insurance claims and can be severe

Water damage is one of the most common reasons homeowners file claims on their insurance policies, along with wind damage and hail. Water damage is caused by numerous things, and it can be devastating for a house. Homes sustain water damage from storms, plumbing problems, and roof issues. When these things happen, they can damage the things in the home, the building materials of the home, and more. They also tend to leave a home full of mold, which is very devastating and hard to remove.

A policy covers water damage in certain cases

When a house experiences damage from water, it may or may not be covered by the insurance policy. In most cases, insurance policies cover water damage when it occurs from a rainstorm or a plumbing problem that occurs instantaneously. For example, if a pipe burst in your home and caused water damage, your insurance would probably cover the damages. Another example is if your water heater instantly sprung a leak that caused water damage in your home.

A policy will not cover water damage in certain situations

Most homeowner's insurance policies do not provide coverage from flooding, unless you specifically have flood insurance. Additionally, if the water damage was caused by a gradual leak from a plumbing issue, it will not be covered. For example, if you have a leaky pipe in your wall that slowly caused damage, this would not be covered, as it would be your responsibility to maintain your plumbing pipes to prevent problems like this.

If you are currently making repairs for water damage in your home, talk to an insurance company to find out more about the coverage you have. And if you think you could benefit from flood insurance, look into finding a relevant insurance plan that will work for you.