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An Overview of Water Damage & Insurance Coverage

Water Emergencies Require Immediate Restoration Efforts

According to the Environmental Protection Agency (EPA), the number of water main breaks in the US exceeds 200,000 incidents every year. These leaks usually come at a significant – causing extensive water damage and sky-high water bills. They also waste the earth’s most vital resource.

Unfortunately, water leaks and breaks in the main line are not easy to detect. They require advanced tools and a professional eye. We recommend hiring a professional the moment you experience a water-related emergency. The restoration experts at ServiceMaster of Colorado Springs can rush to the rescue – drying, repairing, rebuilding, and restoring your property after water damage.

The Insurance Process Can Be Daunting Without Professional Assistance

Along with our hands-on assistance, we also offer guidance in dealing with insurance claims. The process of itemizing damaged goods for insurance claims can be tiresome and complex. Luckily, our team has years of experience and expertise in this field. We can help you stay on top of your water damage to ensure you maximize your insurance coverage.

Today, we’re going to provide a quick overview of some common insurance scenarios pertaining to water damages and emergencies. Our goal is to provide you with the knowledge necessary to clarify your confusion and expedite the claims process. When it comes to filing insurance claims, knowing the detailed ins and outs of your insurance policy can be the difference between getting a full refund vs. getting a costly bill. This knowledge can also help you save time, stress, and money.

Homeowners Insurance & Water Damage

Most traditional homeowners’ insurance cover water damage that arises from a source inside the home. This includes water damage caused by:

  • Frozen pipes
  • Faulty plumbing
  • Appliance malfunctions
  • HVAC issues
  • Broken water lines
  • And much more!

It is usually possible to add water backup coverage to standard homeowners’ insurance policies. This optional coverage can prove to be pivotal if a sewer line backup occurs, causing water to flood your property. Water backup coverage should cover damages, restoration costs, and affiliated expenses.

Insurance Options for Water Main Line Issues & Flooding

There are often exclusions with homeowners insurance policies when water damage is caused by external sources. The cause and location of the leak can become a critical distinction for how to proceed with insurance claims. If the leak/flooding arises from outside the home, a regular homeowners insurance policy is likely not going to provide coverage.

Water damage caused by leaks and water main breaks on public/city land will require another insurance policy, such as flood insurance. Flood insurance is necessary for water damage originating from problems outside your home, including damages directly caused by flooding. If you’re concerned about semantics/legalese, the National Flood Insurance Program (NFIP) defines flooding as “an excess of water on land that is normally dry, affecting two or more acres of land or two or more properties.”

Flood insurance is mandatory in some states and backed by the federal government under the Federal Emergency Management Agency (FEMA). It is possible to purchase a flooding insurance policy through the NFIP or a private insurer. Flood insurance is a wise precaution for property owners in susceptible regions. We recommend every property owner consider the upsides of flood insurance – regardless of where they reside. The weather is increasingly unpredictable. Over recent years, we’ve witnessed flooding incidents rise in low-risk regions.

Plan Wisely: Insure Your Property Against Water Damage & Flooding

Floods can happen wherever, whenever. If you’re still unsure of your coverage, don’t hesitate to read the fine print of your insurance policy or contact an insurance agent for assistance. At ServiceMaster of Colorado Springs, we can help determine if you need additional flooding coverage to protect your home from water emergencies.

Our specialists understand the frustration and inconvenience of dealing with water damage and insurance paperwork. Insurance companies can be tricky with their wording. It is often necessary to read each line meticulously to get a precise overview of what is covered and the cost of premiums. Each policy is unique, and saving money and stress requires purchasing an insurance plan that suits your situation.

Finally, call our team right away if you are dealing with a water-based emergency. If possible, turn off the main shut-off valve while you wait for our restoration experts to arrive. Stopping the water flow can minimize damage and allow our team to assess the damage quickly and efficiently. You can rest assured knowing we offer 24/7 emergency services to help you get back on your feet as fast as possible.

Need restoration help? Give us a call at (719) 356-3189 today!