Does Your Insurance Cover Flooding and Water Damage?
Will your homeowners' insurance cover the flood damage that occurs because of a broken pipe? The answer to this question depends on several factors. One of the most important things you need to know is that the damage is probably covered if the damage was the result of a sudden or unforeseen happening:
- Leaking air conditioner
- Malfunctioning clothes washing machine
- Broken pipes because of freezing temperatures
It's important to understand that your policy may not cover all of these specific situations. Your best source of accurate information is the insurance coverage provider.
Understand Insurance Exclusions
In most situations, if the damage is the result of gradual changes or the lack of proper maintenance, you'll probably have to pay for the repairs. Some examples of policy exclusions include a leaking pipe that you ignored, mold damage from an ice dam on a clogged roof gutter, and high levels of humidity in the bathroom. Again, coverage and exclusions vary from one insurance provider to another.
Don't Ignore Signs of Trouble
Most of the time, insurance companies expect homeowners to care for the plumbing system, taking steps to make sure pipes don't freeze, connections are kept tight, and that signs of damage, such as cracks and mold, are addressed right away. Slow-developing damage is often the result when homeowners don't address these issues, and this type of flood damage often isn't covered.
Keep Up With Maintenance
The best way to avoid the costs of hiring flooding and water damage cleanup crews is to regularly maintain the pipes and plumbing systems in your home. At the first sign of trouble, take steps to correct leaks, clogs, and mold. It's also helpful to contact your agent to learn more about the water damage risks in Colorado Springs, CO. You could also ask for advice on reducing the risk of a broken pipe and other sources of flood damage.