As a homeowner, it is your duty to understand the risks covered by your home insurance policy and also how to file a claim in case of damage and loss. Damage to properties caused by water is very common especially in apartments where there are shared pipes. However, when it comes to water damage, assessing what is covered under the standard home insurance policy is difficult. Here are some important information regarding the coverage offered against water damage and also the claims process.
Home Insurance Coverage Water Damage
Most home insurance policies offer protection against damage caused by water if the cause is accidental and unexpected. The following events are covered by a comprehensive home insurance policy.
- Bursting of pipes
- Water leaks causing damage to the property
- Water leak in the roof
- Cover against natural calamities like flood
- Bursting of water tanks
- Accidental leakage from automatic sprinkler installations
Please refer to the policy wordings of your home insurance policy to understand your inclusions and exclusions against water damage.
What is not Covered?
Water damage caused because of the following are not covered under a standard home insurance policy.
- Water damage from accidents caused by willful destruction of property
- Loss or damage caused by water due to wear and tear of home structures, depreciation and consequential loss.
- If the damage is caused by ionizing radiations or nuclear weapons
- Water damage due to unresolved maintenance problems like rusty pipes or plumbing issue
The exclusions may vary depending on the insurance provider. Do enquire with your insurer or agent about the policy exclusions.
Filing Home Insurance Claims Water Damage
The general procedure for filing a home insurance claim against water damage is as below.
- Ensure your safety first in case of an accident. Call concerned authorities in case of fire or pipe burst. Take necessary steps to prevent any further loss.
- If possible, take photos of the damaged area and also keep the receipts from services or purchases used because of the damage/loss.
- You can report a claim to your insurer over the phone, through a mobile device or online.
- While filing a claim, make sure your mention the type (theft/fire/water damage etc.) and the description of loss or damage to your personal belongings and home.
- You will be required to submit some supporting documents which your insurer will brief you about. Make sure you have all the information like policy number, name, address and ID proof ready to produce if required.
- Depending on the extent of damage and the claim type, a surveyor might be assigned to assess the damage through a field inspection.
- After the claim is processed and approved, the reimbursement will be made to you.
It is your duty as a insured to know the exclusions and inclusions of your home insurance policy. Since a damage caused by water can prove to be very expensive, you must be informed about the claims process and coverage offered so you can contact your insurer without any delay in case of an accident.