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How can I maximize my water damage claim?
Water damage: 8 steps to follow when making a claim
- Report the damage as soon as possible.
- Limit the damage and keep it from getting worse.
- Notify affected third parties.
- Have a plumber handle emergency repairs.
- Use a cleaning service.
- Make a list of your damaged or destroyed property.
- Hold on to defective and damaged items.
How does water damage insurance work?
Water damage insurance is a type of protection provided in most homeowners insurance policies against sudden and accidental water damage. Water damage insurance does not cover damage resulting from the homeowners’ negligence or failure to maintain the home in good repair.
Does homeowners insurance cover water damage from plumbing?
Your homeowners insurance policy should cover any sudden and unexpected water damage due to a plumbing malfunction or broken pipe. However, most home insurance policies exclude damage to your home that occurred gradually, such as a slow, constant leak, as well as damage due to regional flooding.
Is water damage a liability loss?
Homeowners Policies and Water Damage Legal Liability Insurance. Homeowners insurance policies generally include water damage legal liability, either as part of the personal liability coverage or in a separate rider.
Can I make an insurance claim for gradual water damage?
Gradual water damage is a common problem when it comes to making insurance claims. For instance, suppose the faucet handles on your sink are leaking and you neglect to repair them. That leaking water will one day cause damage to your home. If you try to make an insurance claim when that happens, you could be denied.
What happens if there is additional damage after a claim?
On rare occasions, additional damage may occur after or as a result of a claim, and not be caught. If the gradual damage is a result of the original claim that was covered, the insurance company may decide to cover it.
Should you file a claim with your own insurance company?
There are benefits to filing a claim with your own insurance company, but there also are drawbacks. These pros and cons may determine what you do after a loss. Depending on how you have set up your policy, you might have a deductible associated with your policy.
What happens if I make too many claims on my insurance?
In some cases, insurance companies will raise your premiums if you make too many claims in a year or if the claim you make is very high. If you file with your own company, you risk paying more for insurance in the future.