Did you know about these Typical WATER Exclusions in most Homeowner Insurance Policies?
- (1) Flood, surface water, waves, tidal water, overflow of a body of water, or spray from any of these, whether or not driven by wind;
- (2) Water which backs up through sewers or drains or which overflows from a sump; (ask about an endorsement that can be added)
- (3) Water below the surface of the ground, including water which exerts pressure on or seeps or leaks through a building, sidewalk, driveway, foundation, swimming pool or other structure.
If you study your homeowners policy you will find the following comforting words. Direct loss by fire, explosion or theft resulting from water damage is covered.** Yeah!!!
Do not blame your agent for the way the Homeowners policy is written. The Us Government is in full cooperation on the issue of excluding Flood Coverage on Homeowners Policies. A great site to learn more is https://www.floodsmart.gov/floodsmart/
The point is people may not realize what is and is not covered when it comes to water and I believe it is better to research if your policy has an endorsement for some of the water issues or if you do not have the coverage. You, the insured, are ultimately responsible to read your policy (but how many take the time until it is too late?)
Exclusions are usually found on around page 115 or so. If you download your policy as a PDF you will easily find any search term by Control F within the PDF of your Homeowners Policy. Knowledge is power so keep your policies on your computer.
Ask your agent about a Flood Policy from FEMA if you worry that some of the above exclusions could cause serious financial hardship.
For more insight into Homeowner Policy Exclusions follow our other blog titles to come.
Author- Diane Goselin- Massachusetts Licensed Insurance Agent