Back to back (and possibly to back) catastrophic hurricanes can be eye opening to everyone, not just the people directly involved. High winds and damaging water can make their way up the coast and affect people in this area. Do you know what is covered on your homeowner’s policy and what is not covered? The past week we have seen a lot of flooding. Flood is something that you would need a separate policy for. Flood insurance is written through FEMA. Flood insurance is required in some areas, however for most of us it’s an option. Many people say that they do not need flood insurance, but a devastating flood can make it too late to purchase flood insurance. Talk with one of our agents about your needs for flood insurance.
Sewer and drain back up is another topic that could arise not necessarily from a storm but possible from a clog, tree roots, or a collapsed line. Sewer and drain back up could be excluded on your policy; however, it could be included as well. Sewer and drain back up coverage would not cover the damage to the pipes and the replacement of those pipes but the damages caused by the back-up of the sewer and drain.
What about the damage to the pipes? Coverage for damage and replacement of underground service pipes is usually provided from the utility company. This is starting to change however, and some companies provide this coverage for a very cost effective premium. Replacing underground service lines can be a very costly expense to pay out of pocket.
What coverage gaps do you have in your homeowner’s coverage? Feel free to contact us and let us discuss with you the pluses and minuses of your coverage.