3 FAQs About Water in Your Basement and Insurance

3/11/2021 (Permalink)

A flooded basement can occur in any home.

What Is Covered By Your Insurance?

The last thing you want to experience is a basement flood, but you still need to be prepared for one. That means understanding what your homeowner's insurance will cover. Here are some frequently asked questions about water sources in your basement and your insurance company's response.

1. Is a Pipe Burst Covered?
Generally, a basement flood caused by a burst pipe falls under the sudden and accidental clause in your policy. This means your insurance will pay for water remediation professionals to dry out your home and fix the damaged flooring and walls. Additionally, your insurance coverage will typically pay for any damage in your basement if you live in a duplex and your neighbor's pipe bursts.

2. Is Damage From a Storm Covered?
Damage that comes from factors outside of your home is another thing. A standard homeowner's insurance policy typically does not cover damage from natural disasters, including hurricanes, thunderstorms, or blizzards. However, you can get a separate flood insurance policy to protect against this type of event. This can be added to your homeowner's insurance or purchased as a single option through another company.
Although they can be crucial, very few homeowners have flood insurance policies. Even though mortgage lenders only require flood insurance policies in high-risk areas, it is a good idea to have this no matter where you live. After all, flooding can occur anywhere.

3. Is Groundwater Seepage Covered?
Sometimes, a basement flood can be caused by groundwater seeping through the cracks in the foundation of your home in Liberty, MO. The damage is generally not covered in these cases. This is because regular maintenance can often prevent groundwater seepage. Be sure to have your foundation inspected regularly and perform any recommended chores.
Since a flooded basement can occur in any home, it is important to understand what is covered by your insurance company. These frequently asked questions will give you a head start so you can find out what your policy covers.