April 16, 2010

Are You Insured Against Water Damage?

One of the most common claims filed against home insurance policies is for losses resulting from water damage. Flooded basements, busted pipes, and other water related accidents often lead people to learn the details of their home insurance policies. Unfortunately, more often than not, consumers are surprised to find many water related losses are not covered by home insurance.

Most standard home insurance policies do not provide coverage for drain and sewer backups. In fact, many policies specifically exclude damage resulting from this type of loss. It’s important to know there are special endorsements available, at added cost, which will provide coverage for sewers and drains. This is extremely important coverage and is one of the more commonly over looked areas of possible risk by homeowners.

Another devastating loss caused by water is flooding. Flood damage is not covered by home insurance. A separate flood insurance policy must be purchased if you feel your home is subject to loss from the possibility of flooding.

Make sure you know what’s covered by your insurance policy. Contact us for a free policy analysis at (616) 643-0623 or online at https://www.LMCU.org/Insurance. We’ll review your coverage and provide a comparison quote to make sure you have the most competitive rates available.