Many homeowners in Virginia have already faced water problems or foundation issues. These issues likely won’t disqualify you from insuring your home against future damage. However, in some cases, you will need to make repairs to lower your risk before you’re eligible for insurance coverage.
In this insurance guide, we’ll explain how insurers analyze your home’s risks and what you can do to protect yourself against the high cost of water damage.
Many homeowners believe that it’s a single rainstorm or natural disaster that can cause a home to start leaking. While this can be the case, it’s far more likely that the leak you may have found in your basement formed as a result of long-term, excessive stress. As rainwater and snow runoff accumulates around your foundation, it puts stress on the structure. This type of stress is known as hydrostatic pressure.
When a material’s expanding and contracting more frequently than it should, it can start to crack. A crack means more potential for a leak, which means more exposure to water, and that means a greater risk of damage in your home. However, cracks aren’t the only reason your basement may start to leak. Other reasons may include:
The good news is that if you have homeowner’s insurance, your policy should be able to help you pay for repairs if or when your basement starts to leak. That said, insurance companies are selective about what they’re willing to cover. More often than not, your insurance provider will be able to provide you with financial support if your basement starts to leak for any of the following reasons:
It’s worth noting that most insurance companies will recommend that you work within the bounds of an appliance warranty if it’s an appliance that’s caused your leak. This way, you can have that appliance replaced while also repairing any damage that’s been done to your home. That said, if your appliance is no longer covered by your warranty, your insurance may cover the cost of a replacement as well as the damage that’s been done to your home.
If your home has suffered flood damage due to a natural disaster, basic homeowner’s insurance could likely leave the cost of repairs to you. Most of their reasoning for this is based on the unpredictability of natural disasters. You may want to consider investing in either more comprehensive coverage or disaster coverage if you live in an area you think may compromise your home’s structural integrity.
Come late winter, spring, and fall, D.C. sees more than its fair share of rain. Unfortunately, if that rainwater gets up close and personal with your basement, you may have to deal with the aforementioned hydrostatic pressure – and the leaks that come with it. Because these leaks will have formed naturally, your homeowner’s insurance likely may not cover the cost of repairs.
It’s not just rain that can cause your home to leak. If your area’s gone without rain for a while, the soil molecules around your home can start to shrink. When it does finally rain, these molecules won’t be able to absorb as much water as they normally would. As a result, you may see unexpected seepage in your basement. Again, because this is seen as a natural leak, many insurance companies might not accept claims filed to deal with seepage repair expenses.
To qualify for flood insurance, some homes may be required to meet the current building codes and flood management regulations. In particular, this includes water management systems that protect the stability of your foundation, such as installing flood vents. Even when they’re not required, installing flood vents can help you significantly reduce flood insurance premiums.
If you’ve already taken steps to mitigate water problems, have those repair documents on hand to show the inspector. Spring cleaning before your inspection can also help your home seem well-maintained and low-risk.
Whether you’re covered for repairs or not, don’t let your concerns about cost keep you from reaching out to the professional basement repair contractors working in the Virginia, Maryland, and D.C. area. After a free inspection and repair quote, you’ll have a better idea of what leak you’re working with and how you can go about managing repairs. Contact JES Foundation Repair today!
Groundworks Editorial Team
