fincash logo SOLUTIONS

Fincash » Water Damage Insurance

How to Get Water Damage Insurance?

Updated on May 14, 2024 , 177 views

Water damage insurance is a protection type that is available in most of the insurance policies. Provided to homeowners, this Factor keeps you safeguarded against sudden, accidental water damage.

Water Damage Insurance

However, keep in mind that such insurance doesn’t cover the damage that has resulted from the failure or negligence of the homeowner in maintaining adequate repairing.

How to Prevent a Water Damage?

Water damage is a significant factor in claims of homeowner insurances. Primarily, there is five times more possibility of a house getting damaged by water than theft. And, water damage is seven times prevalent than fire.

To decrease water damage, it is essential to have a home inspection by a plumber once every five years. Thereafter, replace an old water heater, use steel-braided supply lines, turn off supply when not in use. Also, don’t run a washing machine or other water-oriented appliances when there is nobody at home.

Inclusions in Water Damage Insurance

Below-mentioned are some of the events that a Home insurance policy covers:

  • Bursting of pipes
  • Property damage because of water leaks
  • A water leak in the rooftop
  • Coverage against natural calamities, such as flood
  • Water tank bursting
  • Accidental leakage from installations of automatic sprinkler

Although these are a few things that get generally covered, however, before taking a policy, it is recommended that you go through the policy wordings to understand inclusions and exclusions.

Ready to Invest?
Talk to our investment specialist
By submitting this form I authorize to call/SMS/email me about its products and I accept the terms of Privacy Policy and Terms & Conditions.

Exclusions in Water Damage Insurance

Under a basic home insurance policy, the following reasons are not covered in association with water damage.

  • Accidental water damage caused by intentional property destruction
  • Damage or loss caused by water because of wear and tear of home Depreciation, structures as well as momentous loss
  • Damage caused by nuclear weapons or ionizing radiations
  • Damage caused by unsettled maintenance issues, such as like plumbing problems or rusty pipes

Generally, exclusions vary as per the insurance provider. Thus, make sure you enquire adequately before choosing a policy.

How to Claim Home Insurance for Water Damage?

The basic process of filing a home Insurance Claim for water damage is as mentioned below:

  • In case there is an accident, make sure you and other family members are safe first. And then, Call the authorities if there is a pipe burst or fire. Take the needed steps to avert any further loss.
  • If possible, click pictures of the damaged area and keep receipts of purchases or services used that caused the damage
  • You can either make a claim by calling the insurer or through the online method
  • While filing the claim, ensure that you mention the type of damage along with the description of the damage to the property or loss of personal belongings
  • You may have to submit certain documents, such as policy number, address, name, ID proof, etc.
  • Based on the damage extent and claim type, a surveyor may visit your house to evaluate
  • Once the claim is approved and processed, the reimbursement will be provided
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
How helpful was this page ?