Will Homeowners Insurance Cover Water In Basement?
910 POINTSview profileKen BoncelaAgeny Owner, Farmers Insurance, Ken Boncela Insurance & Financial Services, Oswego, lllinoisPossibly yes and possibly no! The question that needs to be answered is how the water got there. If the water is ground water entering the home thru doors and windows, only flood insurance, NOT homeowners insurance, covers the resultant damage. And even with flood insurance the coverage is very limited in areas of the home below grade. If the source of the water is seepage thru cracks in the foundation there is no coverage. If the source of the water is sump pump failure, whether by power outage, mechanical failure or simply being overwhelmed, you will need to have optional coverage available from many insurers. The same for the source of the water being a back up of the sewer system. If the source of the water is overflow from above, such a burst washer hose or clogged commode, there would likely be coverage. You will want to consult your insurance professional for a detailed review of the coverage you have and/or need.Answered on March 20, 2014flag this answer
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaA homeowner’s policy pays for damages caused by specified perils. Water could enter your basement from a burst water line in the house, in which case the damage is most likely covered by your homeowner’s policy (there are various forms.) If the water entered your basement from outside it is very unlikely that there will be any coverage because that peril is usually excluded from a homeowner’s policy. 25% of losses suffered by homeowner’s have to do with flood. Flood insurance is usually a separate policy.Answered on September 18, 2014flag this answer
14231 POINTSview profileTom SheehanAgency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482It may be possible, but it depends upon the source of the water and the terms and conditions of your policy. If for example you have suffered water damage because a pipe failed, then in most cases this would be covered. It is common that damage caused by ground water seepage is not covered, however, talk to your insurance professional to see if your insurance company offers an endorsement that provides protection from the failure of a drainage system. Any coverage available through your Homeowners policy would, of course, be subject to your deductible.Answered on September 18, 2014flag this answer
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