Water damage is one of the most destructive things that can happen to a home, and it can lead to thousands of dollars in restoration services. Though many homeowners have insurance to protect them from unexpected expenses like this, there could be some limitations and restrictions.
It’s important that homeowners understand some of the most common water damage insurance issues so that they can avoid paying too much out of pocket. Fortunately, the professionals of National Restoration Experts know a thing or two about dealing with water damage insurance claims. Keep reading this guide to learn how to get coverage for water damage in the Pompano Beach area.
Hitting Insurance Coverage Limits
Some homeowners are under the false impression that they are covered for any type of water damage incident. However, everyone should be familiar with the different coverage limitations outlined in their insurance policy. Some providers have strict exclusions and restrictions that prevent full coverage for certain types of water damage.
The following are just a few of the most common coverage limitations that homeowners should check for:
- Natural Disasters: Though standard policies typically cover floods caused by broken pipes, many exclude coverage for an “Act of God.” These natural disaster events can include hurricanes, flash floods, earthquakes, and more. Homeowners may have to purchase separate flood insurance for these situations.
- Negligence: If a homeowner neglects their house and fails to keep up with regular maintenance, they could face insurance coverage issues. Therefore, it’s important to care for sump pumps and clean clogged drains.
- Mold Remediation: In most cases, water damage insurance policies do not cover secondary water damage like mold. In order to be fully covered for any possible scenario, homeowners may need to add mold insurance.
- Household Contents: Insurance policies can have specific limitations on different categories of personal property, such as jewelry, electronics, furniture, and clothing. Additional riders may be required to get adequate coverage for unusual or “big-ticket” items.
High Insurance Deductibles
Another one of the most common water damage insurance issues is that homeowners have high deductibles. For most people, there is a trade-off between deductibles and premiums. Some people opt for higher deductibles to keep their premiums low, but this can come back to hurt them when costly damage happens.
In order to avoid any problems with insurance deductibles and coverage, homeowners should consider:
- What Deductibles Are: A deductible is the amount of money that a homeowner pays out of pocket for their water damage cleanup and restoration.
- How Deductibles Work: When a homeowner files an insurance claim, the deductible is the amount of money that the homeowner is required to pay before the insurance coverage kicks in.
- When to Change a Deductible: Homeowners may have to change their deductible several times in their life. In times when they have more money in the “rainy day” fund, they might be able to afford a higher deductible. When money is tight, it’s best to lower the deductible to avoid a huge payment all at once.
Failure to Document Damage
When an insurance claim is processed, a homeowner must provide documentation to prove the damage occurred and how severe it was. In order to successfully document the water damage, homeowners need to take several photos and keep a detailed record of expenses with receipts.
Failure to document damage can result in a homeowner getting less coverage than they need. Fortunately, there are a few things that can be done to prevent these kinds of common water damage insurance issues:
- Utilize Photos & Videos: As soon as an incident occurs, homeowners should begin taking photos and videos. Not only should they photograph the visible damage and any affected areas, but they should also have documentation showing the source of the damage, whether it’s a leaking roof or broken pipe.
- Keep Accurate Records: Any communication with the insurance company should be recorded and stored in a file with receipts, estimates, invoices, and any other records involved in the water damage restoration.
- Hire Professionals for Inspection: Having a professional inspect damage and provide a written estimate can prove to be helpful if there are disputes with the insurance provider.
Ask How Contractors Can Help with Common Water Damage Insurance Issues
To learn more about how a Pompano Beach contractor can help with water damage insurance claims, contact National Restoration Experts today. These highly trained experts know how to deal with many major insurance companies, and they can be reached 24/7 for emergency services. Homeowners should call (754) 799-7485 or fill out their online contact form.