Some companies will only cover certain types of damage
When it comes to structural foundation damage, many companies are only willing to cover certain types. Certain forms of relatively minor damage are often excluded from coverage due to the lower risk associated with them. More serious damage such as from floods, earthquakes, and other natural disasters is often covered under standard insurance policies though the extent can vary between providers. Keep in mind that even if a form of damage isn’t covered initially, you may have an opportunity to file a claim for it depending on its severity. Learning about what’s covered and what’s not might just give you peace of mind that you’ve got a reliable partner in mitigating any costly repairs caused by foundation damage.
Does home insurance cover repairs to your foundation?
Many homeowners are sometimes confused about the extent of repairs covered by home insurance. The short answer is it depends. Typically, standard home insurance policies may cover damages caused by certain types of accidents or disasters but it’s uncommon for it to cover repairs to the foundation. Generally, it’s a specialized policy that covers foundation repair and it usually comes at an additional cost depending on the age and condition of your house, its location, and other factors. So it’s always best to check with your insurer before assuming you’re covered for such a repair!
When your insurance policy will cover foundation damage
When it comes to foundation damage, a homeowner may be understandably worried about having to pay out of pocket for repairs. However, insurance can provide some relief in this situation as many policies cover foundation damage under certain circumstances. For instance, if there is evidence that the damage was caused by events such as a hurricane or large storm, an earthquake, fire and smoke, a civil commotion (riots or vandalism), and water that backed up through sewers or drains―these would all generally be covered. But it is important to review your individual policy since coverage of such losses may vary from policy to policy. The good news is your insurance might help you repair the foundation when the need arises.
In conclusion, it’s important to understand the intricacies of your home insurance policy before dealing with foundation problems. It can be hard to determine what is covered, so ensure that you check with your insurer to see what type of damage they will cover before anything happens. Make sure that you have a good policy in place to ensure that the cost of any necessary repairs doesn’t come out of pocket. Furthermore, it’s always best practice to know and understand the coverage before you have any kind of problem occur. If you’re uncertain about your coverage or need help navigating the process, don’t hesitate to call a public adjuster in your area. It’s better to be safe than sorry! All in all, make sure that you walk around the house for signs that something is amiss with your foundation, and call an experienced professional if needed. Doing so can save you from costly repairs and provide peace of mind.
Need help filing a claim?
American Premier Claim Consultants is here to help. We specialize in helping homeowners and businesses understand their insurance coverage, file claims for damage, and secure the maximum settlement amount allowed under the policy. Contact us today if you need assistance filing a claim for foundation damage!