Is a flooded basement covered with my insurance?

3/9/2023 (Permalink)

This flooded basement was caused from a recent storm.

When it comes to home insurance, there are some things that you can't control. No matter how hard you try, things are going to go wrong sometime. And when they do, you'll want to know that your home is protected by a solid policy and that includes water damage coverage. But what if your basement floods? Is that covered? Do I need professional help? No matter how hard you try, things are going to go wrong sometime. It's just a fact of life.

What is Covered?

We all make mistakes and sometimes those mistakes lead to damage that affects our homes or businesses. But what about when water gets into the basement? Is it covered by insurance?

The short answer is yes, but it depends on your policy and what caused the flooding. If you have a standard homeowner's insurance policy, then most likely any damage from water would be covered as long as there wasn't any negligence involved in its entry into your home or business.

Water damage is the most common.

Water damage is the most common form of home insurance claim. The Insurance Information Institute reports that more than half of all homeowners' insurance claims are for water damage, which makes up about 50% of all insured losses.

Water damage can be caused by many things, including plumbing leaks or burst pipes, flooding from heavy rains or hurricanes/tropical storms, and even broken hoses that spray water onto your property. Water entering your home can happen inside as well as outside. A leaky roof or windowpane to cracks in the foundation caused by shifting soil below ground level (slap jacking).

It may not be covered by your policy.

It's important to check your policy to see if water damage is covered. If you have renters insurance or a home warranty, it may not cover your basement. If you live in a condo or co-op building and have purchased additional insured coverage for floods, this too might not apply when it comes to flooding in basements (since these are considered "common elements").

If you're unsure about what is covered by your policy and whether or not should purchase additional coverage for floods, talk with an agent.

You'll need a professional contractor.

If you have a flooded basement, your first step is to contact an experienced contractor. You need to trust that they will be able to get your home back in order and help you with any insurance claims that may arise from the damage.

You will also need patience. The process can be time consuming and frustrating, but if you're ready for it and willing, then everything will work out just fine. Just remember, there are no guarantees when dealing with insurance companies or contractors, so be prepared for anything!

How it works.

If you're dealing with a flooded basement, it's important to understand how your insurance policy covers the damage and what kind of help you can expect from your insurer. If there are other concerns beyond cost-effective repairs, like mold, then it might make sense for you to seek professional help from start-to-finish, otherwise, consider hiring someone who specializes in water damage restoration as soon as possible so that they can begin working on restoring order quickly and efficiently once everything dries out enough for them do so safely without risk of further damage occurring later down

As you can see, water damage is a common problem that can be difficult to deal with. It's important that you know what your insurance covers so that you can make sure your home stays safe and protected at all times. If you're unsure of what type of coverage or limits may apply in this situation, contact us today!