If you have experienced water damage in your Etobicoke or Oakville home, you may be wondering exactly how much your insurance will pay for any repairs and what amount will be coming out of your pocket. The short answer is that it depends on your home insurance and what you’re covered for. Here’s what you need to know.
How, not what
When it comes to water damage, the type of repairs needed will almost always be the same: floors, electrical, drywall, heating systems, etc.
What matters the most to insurance is how the water gets into your home – not that water has damaged the home.
Flood damage
Most homeowners’ insurance policies have no coverage available to repair damage caused by a flood. In many cases, there will be government relief available to help pay for damage that is uninsurable, but most of the time, that relief doesn’t end up being enough to help homeowners pay for the repairs they need.
Depending on the insurance each homeowner has, they may be able to purchase flood insurance. However, this may only be available if you don’t live in an area prone to flooding, and you may have to purchase sewer backup coverage separately from the flood insurance.
Additionally, this will probably only cover flooding from a natural disaster.
Plumbing Tip: Avoid Flooding During Vacations!
What about flooding not caused by a natural disaster?
There is comprehensive insurance coverage for incidents like foundation cracks, leaking pipes, or even pipes that burst.
This type of coverage may help give you some relief if the leak is sudden and accidental, but there may be some exceptions where your insurance doesn’t cover you. For example, some insurance policies won’t provide any kind of damage coverage if the house has been sitting vacant for more than 48 hours (in some cases, 24 hours). So, if you’re on vacation, you may want to have someone checking in on your home daily when you aren’t there.
If you have a slow leak that has developed over time, you may still be able to get coverage for the damage to your home. Now, if the damage has come from something like a leaking toilet that you, as the homeowner, failed to repair, the insurance company may not issue any sort of coverage.
However, that doesn’t mean all slow leaks will be denied coverage. If you have questions about what your insurance company will cover, you should contact your agent to discuss the details of your policy.
If you feel you don’t have enough coverage or want a little more peace of mind, you can always increase your coverage to ensure you have the security you want for your family.
Contact D. Jason Plumbing today
Regardless of whether your insurance covers a specific incidence of water damage, you must get the issue repaired as soon as possible to prevent further damage to your home. If you have noticed a leak or other water damage, contact us today to arrange for a consultation with a licensed plumber.