As we prepare for colder months ahead, it's reasonable for homeowners to anticipate weather-related water damage. From snowmelt to frozen rain, these weather conditions may lead to various damage issues, such as seepage and sewer backups. Investopedia defines water damage insurance as a form of insurance policy against sudden and accidental water damage. In most cases, this does not cover damage caused by the homeowners' oversight or shortcomings regarding repairs.
Many homeowners deal with water damage as an aftermath rather than preventing the outcome. Not knowing what an insurance policy covers can result in lengthy disputes with your insurance provider/carrier. Having a home insurance broker, like NFP, by your side can be advantageous and save you all the hassle. We decided to go over the most common water damage claims and whether your home insurance policy provides coverage for those situations. Let's dive in.
Different types of water damage claims
There are various water damage claims and many forms of exceptions. It is imperative to speak to your insurance broker ahead of the damage to learn about your policy details because your coverage is highly dependent on the type of water damage claim. Your home insurance policy may cover you from water damage claims, such as:
- Sudden or accidental flow
- Sewer backup or water backup
- Overflow
- Overland water
- Weather-related
Did you know?
Claims due to water damage impact 1 in 50 homeowners every year, according to the Insurance Information Institute. Additionally, not all insurance providers in Canada provide enhanced water damage coverage for overland water. If a homeowner wants to know their policy covers water damage, they'd need to consider whether it is accidental, sudden or gradual.
Water damage claim tips
Depending on the water damage, homeowners may take certain steps to expedite the process.
1. Submit your claim as quickly as possible
Try to file your home insurance claim as soon as you see the water damage. The key is to get the adjuster to assess the damage as soon as possible.
2. Clear out the space of the damage
Keep your unimpaired belongings in a place away from the water damage. Likely, you'll want to keep your possessions in a safe and secure place.
3. Make note of the damages
Take as many photos as possible, videos and notes on the extent of the damage. With a home contents list in place, you can document the possessions you own and those items' value.
4. Attend to the water-damaged area
It is important to work as fast as possible to clean out the walls and carpet. The goal is to avoid mold growth.
It is important to maintain an open and honest flow of communication with your insurance broker as you navigate the entire process.
Our home insurance specialists are here to help
A home, its contents and the people who live inside it are the culmination of your lived experience. For the ultimate protection and your peace of mind, choose a home insurance policy from NFP. Request an online quote or call us today at 1-844-811-1118