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Written by Meaghan Hunt Written by Meaghan HuntArrow Right Contributor, Personal Finance Meaghan Hunt is a researcher, writer, and editor across disciplines with a passion for personal finance topics. After a decade of working in public libraries, she now writes, edits, and researches as a full-time freelancer. Connect Meaghan Hunt on LinkedIn Linkedin Contact Meaghan Hunt via Email Email Meaghan Hunt

Water Damage In Basement Covered By Insurance

Water Damage In Basement Covered By Insurance

Edited by Jessa Claeys Edited by Jessa ClaeysArrow Right Editor, Insurance Jessa Claeys is an insurance editor for , covering auto, home and life insurance. He has over six years of experience writing, editing and leading teams of content creators dedicated to helping others secure a healthy financial future. His work has been published in numerous insurance, personal finance and investment-focused publications, including Jerry, BiggerPockets, 401(k) Specialist, BP Wealth and others. Connect with Jessa Claeys on LinkedIn Linkedin Jessa Claeys

Losses Covered Under Water Damage

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Revealing The Main Dangers Of Hidden Water Damage

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Water Damage In Basement Covered By Insurance

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When Does Homeowners’ Insurance Cover A Flooded Basement?

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How To Check For Water Damage In Your Basement

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Water Damage In Basement Covered By Insurance

Regardless of its age or location, no home is immune to water damage. From frozen pipes to leaking appliances to faulty sprinkler systems and more, water can be devastating, and repairs are often expensive. The average water damage claim amounts to $11,098. What’s worse, this type of damage is common. U.S. property owners reports about $20 billion in water-related damage each year.

Does Homeowners Insurance Cover Water Damage From Dishwasher?

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Fortunately, homeowners insurance can help cover many disasters, including certain types of water damage. But it’s important to know which incidents are covered under your policy and which aren’t – before it’s too late. Here’s what you need to know.

So when does homeowner’s insurance cover water damage, exactly? It depends on what caused the water damage. Damage caused by a burst pipe is usually covered, as long as the damage was sudden and accidental, and the homeowner took appropriate steps to avoid the issues. For example, if your pipe freezes and bursts, it’s likely that the water damage will be covered under insurance (minus your deductible). However, if you leave your home for several days and turn off the heat during freezing temperatures, your insurer may have reason to deny your claim.

However, how to apply for coverage can be quite complicated. A major dishwasher leak may be covered – or not. It all depends on the maintenance you have done up to that point. If you knew the dishwasher had issues and didn’t deal with it, your insurer could argue that you were negligent and the water damage could have been prevented, which means your claim won’t be denied. It is also important to review the “Responsibilities in the Event of Loss” section of your homeowner’s insurance policy to understand what to do to avoid further damage in the event of a claim situation.

What’s The Average Cost Of Water Damage Restoration?

Note that flood damage is almost always excluded under a standard homeowner’s insurance policy. You usually need a separate flood insurance policy for this type of coverage.

HO-3 policies are the most common homeowner’s insurance policies on the market. This usually includes open perils coverage for your home and detached structures, meaning that if your home or garage is damaged by water it will likely be covered – unless your policy specifically excludes that peril. Under the HO-3 policy form, personal property coverage typically has 16 named perils. The risk must be listed on your policy to repair or replace your personal items.

Usually, you don’t have to worry if your homeowner’s policy covers water damage, because it does in many cases. However, it is important to understand which scenarios are covered under your policy and which scenarios may result in your claim being denied.

Water Damage In Basement Covered By Insurance

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My Basement Flooded; What Will Insurance Cover


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