Is Water Damage Covered by Homeowners Insurance in McKinney, TX?
When you first bought your home, the mortgage company made sure you found homeowners insurance to protect both their investment and yours. It’s a safeguard in the event of any damage. If your home were to succumb to a burst pipe, for example, the resulting water damage would be covered by your insurance policy. But not all types of water damage are covered. In fact, there are many that require a separate insurance policy altogether.
Essentially, your homeowners insurance will kick in and provide coverage for sudden and accidental water damage. For anything else, you’re likely going to pay out of pocket.
Types of Homeowners Insurance Coverage
When dealing with water damage, there are two primary types of coverage to consider: dwelling coverage and personal property coverage. Both come with your homeowners’ insurance policy. The amount you receive when filing a water damage claim all depends on the amount of coverage you have and your deductible. Before we dive into those, let’s go over coverage types.
- Dwelling Coverage – Your dwelling coverage is designed to pay for any damage to the overall structure of your home, including the walls and floors. If a pipe were to suddenly burst behind a wall, your dwelling coverage would kick in and pay for repairs.
- Personal Property Coverage – Also known as contents coverage, personal property coverage helps pay for repairs/replacements to your damaged belongings.
It’s important to remember your deductible. You may have a lofty amount of coverage, but if your deductible is high, then you pay it before the insurance money becomes available.
Types of Water Damage
When it comes to insurance, there are two types of water damage you need to concern yourself with: what is covered and what isn’t covered. Your standard homeowners insurance policy covers sudden and accidental damage stemming from an internal issue – the water cannot have touched the ground outdoors.
Your policy should cover:
- Rain or other storm damage
- Plumbing, including burst pipes, frozen pipes, accidental overflows, etc.
- An accidental appliance overflow
We said “should” cover because every homeowners insurance policy and provider is unique. You’ll need to speak with your insurance agent to determine what qualifies under your specific policy.
Regarding the types of damage that are not covered, you have ground seepage, water or sewer backups, flooding, and poorly maintained plumbing systems. Essentially, if maintenance and prompt repairs could have prevented the water damage, then the insurance company will argue that you should have done one or the other. You are responsible for proper maintenance.