Does Insurance Cover a Basement Flood?

12/10/2019 (Permalink)

Your homeowner’s policy will likely cover a portion of the cleanup and restoration cost of your basement flood

All too often a homeowner goes downstairs, only to find standing water in their basement. If you have a basement flood in your Vickery Meadows, TX, home, you are tasked with interrupting your busy schedule to clean up a big mess, protect your property and investigate whether any insurance coverage is available for your damages.
Home water damage is covered under two areas of insurance. The source of the water determines which type applies. Most forms of water damage will be covered by your homeowner’s insurance, though there are exceptions. This discussion about water-damage insurance may help you pursue the proper channels.

What Your Homeowner’s Insurance Covers

Your homeowner’s policy will likely cover a portion of the cleanup and restoration cost of your basement flood, as long as it wasn’t the result of rising external floodwaters. The following scenarios would likely be covered by your conventional policy:

• A leak through a damaged roof
  
• Stormwater entering a window broken by hail
  
• Leaking appliances, such as a water heater or washing machine
  
• Broken or leaking pipes
  
• A leaking or overflowing toilet
  
  

Your insurance agent can go over the details of your coverage and help you file a claim. It’s important to inquire about deductibles and limits as they can vary between policies.

What Homeowner’s Insurance Will Not Cover

If your basement flood was caused by an actual flood, your homeowner’s policy would generally not cover it. A flood is a temporary condition where normally dry land is inundated by water or mud. If this situation caused your flooded basement, coverage would be provided by a separate flood insurance policy issued by the government.
To recover damages, you would have had to purchase a policy prior to your flood event. Flood hazard maps are used to determine your level of risk. You may have been required to purchase flood insurance if your property is shown to bear risk.
When water damages your home, you have many items to handle. Assessing the possibilities for insurance coverage will undoubtedly be among your concerns. This discussion may help you streamline that process and restore your property and your peace of mind.