Homeowners Insurance Policy Water Damage

If the water comes from outside your home it will not be covered by your standard policy.

Homeowners insurance policy water damage.

Water damage is one of the most common causes of home insurance claims according to the insurance services office iso water damage claims are the second largest frequent insurance claim following wind and hail damage. Most homeowners insurance policies help cover water damage if the cause is sudden and accidental. Claims due to water damage impacts 1 in 50 homeowners each year. Every year about one in 50 homeowners will file a water damage or freezing claim accounting for almost 24 of all homeowners insurance claims according to the insurance information institute.

According to the insurance information institute homeowners insurance may help pay for repairs if for instance your drywall is drenched after your water heater ruptures or an upstairs pipe bursts and water saturates the ceiling below. Certain weather related perils that cause water damage may also be covered in a standard policy. However not all types of water damage are covered. Under most standard home insurance policies if water damage occurs suddenly or accidentally from a source inside your home such as a busted pipe it will likely be covered by your homeowners insurance.