Protecting Your Home From Leaks: Will Home Insurance Help?
Many homeowners in Virginia have already faced water problems or foundation issues. These issues likely won’t disqualify you from insuring your home against future damage. However, in some cases, you will need to make repairs to lower your risk before you’re eligible for insurance coverage.
In this insurance guide, we’ll explain how insurers analyze your home’s risks and what you can do to protect yourself against the high cost of water damage.
The Causes Behind Basement Leaks
Many homeowners believe that it’s a single rainstorm or natural disaster that can cause a home to start leaking. While this can be the case, it’s far more likely that the leak you may have found in your basement formed as a result of long-term, excessive stress. As rainwater and snow runoff accumulates around your foundation, it puts stress on the structure. This type of stress is known as hydrostatic pressure.
When a material’s expanding and contracting more frequently than it should, it can start to crack. A crack means more potential for a leak, which means more exposure to water, and that means a greater risk of damage in your home. However, cracks aren’t the only reason your basement may start to leak. Other reasons may include:
- Unstable foundation
- Poor grading
- Leaking pipes
- Clogged drains
What Basement Leaks Will Home Insurance Cover?
The good news is that if you have homeowner’s insurance, your policy should be able to help you pay for repairs if or when your basement starts to leak. That said, insurance companies are selective about what they’re willing to cover. More often than not, your insurance provider will be able to provide you with financial support if your basement starts to leak for any of the following reasons:
- Leaking water heaters
- Broken or burst pipes
- Piping problems
- Large appliance malfunctions
It’s worth noting that most insurance companies will recommend that you work within the bounds of an appliance warranty if it’s an appliance that’s caused your leak. This way, you can have that appliance replaced while also repairing any damage that’s been done to your home. That said, if your appliance is no longer covered by your warranty, your insurance may cover the cost of a replacement as well as the damage that’s been done to your home.
What Leaks Won’t Home Insurance Cover?
Most of the time, homeowner’s insurance covers leaks that are caused by appliances or problems with the home itself. When it comes to environmental or weather-related leaks, however, most insurance policies may not be able to provide you with the protection you need.
If you live in the D.C. area, be aware that your insurance provider could leave you on the hook for the following:
Environmental Leaks
If your home has suffered flood damage due to a natural disaster, basic homeowner’s insurance could likely leave the cost of repairs to you. Most of their reasoning for this is based on the unpredictability of natural disasters. You may want to consider investing in either more comprehensive coverage or disaster coverage if you live in an area you think may compromise your home’s structural integrity.
Weather-Related Leaks
Come late winter, spring, and fall, D.C. sees more than its fair share of rain. Unfortunately, if that rainwater gets up close and personal with your basement, you may have to deal with the aforementioned hydrostatic pressure – and the leaks that come with it. Because these leaks will have formed naturally, your homeowner’s insurance likely may not cover the cost of repairs.
Seepage
It’s not just rain that can cause your home to leak. If your area’s gone without rain for a while, the soil molecules around your home can start to shrink. When it does finally rain, these molecules won’t be able to absorb as much water as they normally would. As a result, you may see unexpected seepage in your basement. Again, because this is seen as a natural leak, many insurance companies might not accept claims filed to deal with seepage repair expenses.
How Can You Prepare for an Insurance Inspection?
To qualify for flood insurance, some homes may be required to meet the current building codes and flood management regulations. In particular, this includes water management systems that protect the stability of your foundation, such as installing flood vents. Even when they’re not required, installing flood vents can help you significantly reduce flood insurance premiums.
If you’ve already taken steps to mitigate water problems, have those repair documents on hand to show the inspector. Spring cleaning before your inspection can also help your home seem well-maintained and low-risk.
Can Waterproofing and Repairs Help You Lower Insurance Premiums?
Yes! Being proactive about home repairs and maintenance can help your insurance rates. There are clear financial incentives for making repairs that prevent flood damage. You could pay once for a home repair that would protect your property and personal belongings. Alternatively, you could pay higher insurance premiums every month for as long as you live there.
You may see the biggest benefit from a comprehensive basement waterproofing system that secures your home against water threats. A sump pump with a battery backup can help you minimize damage if there is a flood. A ground-level drainage system may also help you lower your insurance payments by diverting heavy rain away from your foundation.
Consult your agent for specific repairs that affect your insurance policy.
Contact JES For All Your Waterproofing Needs
Whether you’re covered for repairs or not, don’t let your concerns about cost keep you from reaching out to the professional basement repair contractors working in the Virginia, Maryland, and D.C. area. After a free inspection and repair quote, you’ll have a better idea of what leak you’re working with and how you can go about managing repairs. Contact JES Foundation Repair today!
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Holly Richards-Purpura
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