Homeowners Insurance Policy Water Damage

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.

Homeowners insurance policy water damage.

A standard homeowners insurance policy will cover water damage to the home or personal property within the home if it s determined that the cause was sudden and came from inside the house. 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. 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. Claims due to water damage impacts 1 in 50 homeowners each year.

However not all types of water damage are covered. A type of protection provided in most homeowners insurance policies against sudden and accidental water damage. 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. If the water comes from outside your home it will not be covered by your standard policy.