When we realize our home is starting to fill with water, the first thing we do is to get rid of the moisture. We don’t always bother checking the source although it is very important if you are to file an insurance claim. You need to determine whether you are experiencing water damage or flooding.
Water damage caused by a faulty home structure is usually covered by homeowners insurance. Depending on the policy you bought, roof leak, pipe bursts, or sump pump damage may be covered.
Meanwhile, flooding involves water from the outside of your home rushing in. Examples of this include an overflowing river or heavy rains. Unlike water damage, flooding isn’t covered by your homeowners insurance. However, there is a separate coverage for this.
While the definition of water damage and flooding is clear, it is still best to talk to your agent after every incident. That is because even if your claim is flood-related but not covered, certain things extending from the flood (such as theft or fire) might be.
Among the worst effects of water damage is mold. Aside from being a health risk, mold can reduce your property’s value. Whether your insurance covers mold damage or not still boils down to its source.
Take, for instance, if you’ve neglected mold formation caused by a flood that happened last year, your insurer won’t probably cover the damage. But if mold damage is a result of a burst pipe or other covered causes, your home insurance policy may cover the problem.
To protect you financially from water and flood damage, it helps to know that insurance is your best friend. With the right homeowners insurance and/or flood insurance policy from the Sungate Insurance Agency, you will have the peace of mind that you deserve. Feel free to talk to us by calling (407)878-7979 or visit us at our office today. You can also get a free quote online.