Water is one of the most common claims that can be reported by the insured on a homeowner’s insurance policy. Water damage can come as a result of a rainstorm, sewage backup, plumbing leaks or other causes. In this post, Long Island Insurance Executive, Gregg S. Marcus, discusses common water damage insurance claims and misconceptions.
Homeowners typically think that regardless of the reason, any water damage to their property will be covered. It is important to understand that this may not be the case do to the fact that the water damage peril specifically covers losses that are Sudden and Incidental. This means the damage or loss must have occurred and been reported to the company in a relatively short amount of time. For example, you smell something musty under your sink and upon further inspection; you discover that there is a leak from a broken pipe. Discoloration of the walls, soggy or spongy wood will typically signal that this leak has been occurring for some time. It is highly unlikely that this situation could have occurred within days. It is more likely that the leak has been ongoing and has created damage for some time. The likelihood that the insurance adjuster would approve payment on this scenario is very rare.
Another common claim is one involving water leaks entering through roofing. For example, a rainstorm occurs that causes water to seep through the roof, damaging the ceiling drywall and flooring in the premises. You file a claim, the inspector arrives at your premises observes the reported damage, proceeds to the roof and makes observations. Several days later you receive notice that the claim is being refused do to wear and tear. If your roof shows uneven leveling, bubbling or raised tiles, your roof needs repairing. If a roof is not in acceptable condition most claims that are a result of that again will most likely be denied.
Water damage claims can be a tremendous burden in many cases they can cause extensive damage. It is important that you maintain your property, be observant of any potential hazards that can lead to a claim and always review your policy with your insurance agent. If you live in Nassau County or Suffolk County on Long Island in New York and need homeowner’s insurance, contact Gregg S. Marcus today for a quote. He may be able to save you hundreds on your policy!
