A home insurance policy will protect what is probably the single most valuable asset you own: your house. This important asset, however, can quickly go down the drain (pun intended) if your home insurance does not cover water leaks and water damage due to faulty plumbing.
Water damage from leaky pipes may be covered by your insurance if the damage is sudden and accidental and is not the result of neglect. In this post, we will talk about the value of having homeowner's insurance and how not all insurances cover water leaks and the damage they cause.
Your coverage should include accidental and sudden water damage caused by a plumbing malfunction, such as a burst pipe or broken water heater. However, homeowner's insurance does not cover damage caused by negligence and poor maintenance. For example, insurance companies won't cover damage resulting from failing to repair the cracked pipe.
Your home coverage protects the structure of your house, such as the walls, floorboards, and the roof. If your house is damaged by a covered leak, such as one inside the walls, or if you have to remove part of a wall in order to repair a leak, your insurance will refund the cost to you. Some home insurances also cover your home's built-in appliances, such as a damaged water heater.
Water Leak Detection
Water leak detection is important since most insurance companies only cover them if they are sudden and unexpected. Sealing all holes behind appliances and under sinks with caulk is one way to do it.
Also, make sure to check under sinks and appliances, or anywhere else that is near a water source, to ensure that everything is dry.
Water leak detectors can be purchased at any store that carries plumbing supplies. You can even find them on Amazon. These are portable, battery-operated gadgets that will sound an alarm if they come in contact with water. These sensors will alert you as soon as a leak is detected so that you can make the repair quickly.
Broken Water Pipe
In the winter, when temperatures reach below or near freezing, a broken pipe leak is not uncommon.
Pipes can burst when they become frozen. There are steps you can take when a pipe bursts in order to reduce damage and cost of repair.
One way is by placing leak detectors near water sources. Acting fast is essential to getting your insurance company to pay for the repairs.
Does Your Home Insurance Cover Water Damage?
That depends. Water damage in your home may be covered by the standard homeowner’s insurance as long as it is considered sudden and internal. Below is a more comprehensive list of what home insurance covers:
Burst pipes, frozen plumbing, accidental overflow- Water damage due to fire prevention
- Overflow of appliances or fixtures, such as bathtub, water heater, toilet
- Mold as a result of water damage
- Vandalism
Homeowner's Insurance Can Save You Thousands
By now you are probably realizing that homeowner’s insurance is a good thing to have for those unexpected emergencies caused by leaks and water damage in your home. It can potentially save you thousands of dollars on plumbing repair bills.
Before you purchase home insurance, make sure you read your insurance policy carefully. Ask if they cover water leaks and water damage and under what circumstances. When a water leak does occur, call Honest Abe’s Home Services quality service and repairs.
