What is an Insurance Claim?
Water damage insurance claims are the most frequent type of insurance loss reported to homeowners insurance companies. When you file an insurance claim, you are making a formal request, to your insurance company, asking for a payment based on the terms of your policy. These claims are then reviewed by your insurance company for validity and then paid out to you (the insured), or a requesting party, once approved.
Water or flood damage, to your home, can be an expensive repair. The National Flood Insurance Program estimates repairing a 2,000-square foot home that has six inches of water damage costs an average of $39,150.
What To Know About Your Insurance Policy
You just finished cleaning the kitchen, set the dishwasher to do its cycle, and go into the other room to sit down for a bit. The next thing you know, you hear a strange noise from your dishwasher. You walk into the room to find water everywhere. You clean up the water but a couple days later your find that your flooring starts buckling.
In this case, your Homeowners Insurance Policy will likely provide coverage. Most standard homeowners policies provide protection from water damage if the cause is accidental and immediate. However, water damage may not be covered with the following issues:
- Damage from unresolved maintenance issues
- Replacing or repairing the source of the water damage
- Water backup from an outside sewer or drain
You should always check with your insurance agent, to know what would be covered, in the event of an unfortunate incident such as water damage or flooding. This way, you can add additional coverage or modify your current policy, based on your needs.
Water Damage vs. Flooding
It is very important, when you call your insurance agent to file a claim, that you know the difference between flooding and water damage. Mentioning that your house “flooded” can cause major issues with your claim. A flood, referring to the overflowing of a river or body of water that has submerged your house, is different than a collection of water in your house from a burst pipe or appliance.
When you buy or rent a home, check to see if you qualify for flood insurance coverage. It costs an average of $700 a year and normally provides coverage of around $230,000. This helps to add more protection to your home and belongings in case of an actual flood.
Prepare For the Unexpected
Being a homeowner, landlord, tenant or living in any dwelling, there is always a possibility that your home can flood or be subject to water damage from an appliance or burst pipe. There are many things you can do to prepare for this potential situation.
Most insurance companies will cover your water damage if it’s sudden and accidental, but they want to know that it happened from a pipe burst or an immediate problem. If the cause is from a prolonged maintenance issue, chances are, the damage for that incident will not be covered.
Ask your insurance agent about your insurance policy’s provisions for temporary housing. If your house is badly flooded from water damage, you may have to stay elsewhere, until the damage is repaired.
Be careful about repairing or cleaning up any damage. It’s best to wait for the water damage restoration company, or adjuster, to come in and make an assessment of the damage with their industry experience, then to start cleaning up the area or fixing damage yourself. This may cause issues with your water damage insurance claim. Make sure to take as many pictures as you can to clearly document the areas affected by water damage, as well.
Water Damage Insurance Claims
Water Damage is the most frequent type of insurance loss reported to homeowners insurance companies. Some companies are trying to negate their obligation to pay on their policies provision by stating that any loss reported past a 14 day period will not be covered. It is very important if you suspect or clearly have a water damage situation, you get help from a qualified water damage restoration contractor, as soon as possible.
Mold Insurance Claims
Whether or not your insurance covers mold comes down to the root cause of the issue. If the mold is due to a prolonged issue, as discussed previously, then it most likely will not be covered. On the other hand, if mold occurs from a burst pipe, your home insurance coverage might qualify to help repair the damage and get rid of the unhealthy mold spores that can occur.
Insurance policy language, dealing with adjusters, insurance agents and the situation itself, can be difficult after experiencing damage to your home and belongings. Water Extraction Experts is experienced in filing and handling water damage and mold insurance claims. We work with the adjusters and insurance agents to properly handle whatever situation you have related to water damage or mold. We encourage you to be proactive and prepared in case of a water damage emergency. When you do experience a disaster, we can help restore your home and your life.
Water Extraction Experts is prepared to address any water damage and mold issues 24 hours, seven days a week, for all water removal, water damage, water restoration, mold remediation, and water leak needs, including water extraction and structural drying.