"Generally, the damage caused by water will be covered, but whatever caused the damage may not be" says one insurance executive when asked about coverage. In the case of a leaking dishwasher hose, this means that although your insurer might pay to replace a carpet damaged by your dishwasher leak, you must pay to replace or repair the hose. If a sudden, unforeseen problem such as a frozen pipe or hose leads to water damage, your homeowners insurance covers both repairs to the broken pipe and to your home and furnishings.
The following are some common situations resulting to water damage and how a homeowner's insurance policy covers it.
Situation 1:Temperature drops to below zero causing your water pipes to freeze and burst
Water damage due to burst pipes is covered but most policies won't cover you if you've left the house unoccupied and without the central heating unit turned on during cold days. If that's the case, your claim could be denied because you've failed to perform the necessary upkeep that would prevent the accident.
Situation 2: Washing machine overflows flooding the basement
The extent to which insurance covers this situation depends on how the insurance company views the problem. Did you fail to maintain the washer properly or did sudden, unforeseen damage cause the flooding? In most cases, if an appliance breaks and water goes all over, the insurance policy covers it. In the case of a washing machine, you might need to purchase replacement parts out of your own pocket because they were not properly maintained, but the damage to your basement is covered.
Situation 3: Water seeps from the ground into your basement, damaging your foundation and interior
Seepage is considered a maintenance problem, not "sudden and accidental" damage, and is excluded from homeowner's insurance coverage.
Situation 4: During a heavy storm, your neighbor's tree falls on your roof, damaging it and causing water to get inside your home
The damage to your roof caused by the fallen tree may be considered "sudden and accidental". Therefore the damage to your roof, home and belongings is covered. Your policy may also reimburse you up to a certain amount for the cost of removing the tree.
Situation 5: Your bathtub overflows
Are you covered? Yes. Surprisingly enough, you are even covered if the bathtub overflowed because you forgot to turn off the faucet.
Situation 6: A nearby lake or river overflows its banks, causing a flash flood in your living room.
Flood damage is not covered by homeowners insurance. You therefore have to obtain flood insurance from the federal government. You can purchase flood insurance as long as your community participates in the National Flood Insurance Program.
Therefore, if water damage occurs in your home, don't panic. Report it immediately to your insurance company. Be careful, however, because what you say may affect the outcome of your claim. Know exactly what is in your policy, what's covered, what's not covered, and report your water damage claim accurately.
Flood is among the top natural calamities affecting US today. While no home is practically declared as totally free from flooding, structures built in low-lying inundated areas, near rivers and dams and other flood-prone areas, are obviously the nearest candidates for flood damage. These damages amount to billions of dollars lost in properties, including damages on house structure and personal belongings and notwithstanding incalculable grief from health hazards and deaths associated with such calamity.
Flood insurance is the insurance coverage against flood damage to properties. Unfortunately, home insurance does not cover flood damage. This is mainly because the number of claimants far exceeds the premiums and the insurance companies are unable to cover their costs.
Since many insurance companies do not provide insurance against flood damage, the Federal Government started National Flood Insurance Program or the NFIP. NFIP is operated by Federal Emergency Management Agency (FEMA).
National Flood Insurance Program (NFIP)
The main aim of NFIP is to provide flood insurance and to protect people from future flood damage through the implementation of floodplain management.
NFIP is implemented in many communities. According to NFIP data, more than 20,400 communities participate in NFIP. These communities have to implement the directives given in Floodplain Management. In turn, NFIP provides flood insurance to all homes and buildings in those communities.
Floodplain Management contains directives to prevent future flood damage. These directives may include certain building requirements, zoning and sub-division. Floodplain Management also identifies certain areas called Special Flood Hazard Areas. New construction in these areas has to be approved by FEMA.
Flood Damage Insurance Policies
NFIP provides two kinds of insurance policies - Standard Flood Insurance Policy and Preferred Risk Policy.
Standard Flood Insurance Policy insures residential buildings, commercial buildings and condominiums in participating communities. Normally the coverage limit is $250,000 for residential structures and $100,000 for residential contents. Business structure and content may have a coverage limit of $500,000.
Preferred Risk Policy is for homes and buildings in low-to-moderate risk zone. This option is considerably inexpensive compared to the Standard Flood Insurance Policy.
Factors for Determining Flood Insurance Premium
The following are some of the factors considered for determining the flood insurance premium. * The community in which the home structure or building is located. * Status of the community - Regular or Emergency. * Date when the structure was constructed. * Amount of insurance needed. * Location category of the building; whether it is in a high-risk, low-risk or moderate-risk zone. * Deductible requested by the owner of the building. * Cost of replacement or reconstruction of the building. * Number of levels or floors in the building. * Pre-FIRM or Post-FIRM: If the Date of Construction or the Date of Improvement is on or before December 31, 1974, then it is Pre-FIRM. Else, it is Post-FIRM. * Need for Elevation Certificate.
Apart from flood insurance, a few simple steps can reduce flood damage. These include having an emergency or evacuation plan, storing valuables in safe areas, cleaning debris from the gutter and being alert to weather conditions. Flood Insurance along with these simple steps will facilitate easy recovery from flood damage.
Both Jacklyn Hartfield & Charmaine Pierce are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Jacklyn Hartfield has sinced written about articles on various topics from Home, Parenting and Home Management. Jacklyn Hartfield does writeups for homeowners for and. Jacklyn Hartfield's top article generates over 22200 views. to your Favourites.
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