Does Homeowners Insurance Cover Water Damage & Flood Damage?
When it comes to protecting your home, you know insurance is key to safeguarding the things you work hard for in life. And, to really give you peace of mind, it’s important to know exactly how it protects you.
A common question many homeowners have is whether or not your home insurance covers water damage. Though we’d like to give you a simple yes for an answer, there’s a little more to it than that. Sure, your standard homeowners insurance policy covers some costs associated with water damage, however, not all types of water damage are covered.
We’re here to clear up the confusion and make sure that you understand how your home insurance, with the help of some additional coverages, protects you in the event of water damage.
What Type of Water Damage Is Covered by Homeowners Insurance?
Say you wake up to find your basement flooded due to a faulty washing machine. Your beautiful, newly renovated wood floor is sopping wet and damaged beyond repair. Your first thought? Will my homeowners insurance pay for this mess?
The good news is that under most circumstances a standard home insurance policy covers appliance or plumbing related water damage that occurs due to sudden and accidental events that originate in your home. This means that water damage is usually covered if it’s not something that has been occurring over an extended period of time. For example, it won’t cover a slowly leaking pipe that drips water onto drywall over a period of several weeks before being discovered. But it does cover a pipe that bursts and quickly floods the bathroom. Keep in mind that in either case, repairs to plumbing or appliances that failed due to regular wear and tear aren’t covered — that’s considered routine maintenance.
When it comes to water damage and home insurance, it’s important to know the two main types of coverage on your policy that may apply:
Understanding Dwelling Coverage & Water Damage
If the structure of your home is damaged by water due to a covered loss, dwelling coverage pays for the damage to the structure of your home.
Understanding Personal Property Coverage & Water Damage
If your personal belongings are damaged by water due to a covered loss, personal property coverage covers the cost to repair or replace your belongings.