Your foundation, just like every other part of your home, is covered by your homeowners insurance policy. However, it’s important to note that not every cause of foundation damage can be covered under a homeowners insurance policy. In fact, some policies specifically exclude certain causes of foundation damage from being covered.
If the damage to your foundation is not specifically excluded in the language of your policy, you can presume it will be covered in a claim. For this reason, it’s important to familiarize yourself with your policy and what it does or does not cover. If you find the language of your policy to be confusing or insufficiently clear, you should speak with a representative of your insurance agency for more information so you can be better prepared for potential disaster situations that might affect your foundation.
Here’s a quick overview of what you need to know about the relationship between homeowners insurance and the need for foundation repair in Racine, WI.
What will you be covered for?
Most homeowners insurance policies include coverage for issues such as explosions, aircraft damage, windstorms, fires, lighting strikes, vandalism, falling objects, volcanoes, riots, civil disturbances, collapses from the weight of snow or ice, water damage from plumbing leaks or HVAC overflows and damage caused by vehicles.
Under any of those circumstances listed above, you would be able to file a claim with your homeowners insurance to get reimbursed for the repairs that must be made to restore the foundation to its previous condition.
What will you not be covered for?
There are, however, some disasters and events for which most homeowners insurance policies will not reimburse you. These commonly include earthquakes, flooding, natural settling or expansion/bulging of the foundation, faulty construction and pressure put on the foundation by growing tree roots.
That doesn’t mean you have no coverage options at all in any of these cases. There are separate flood and earthquake insurance policies available, which you should absolutely look into if your home is located on a flood plain or in an area likely to be affected by earthquakes. In fact, your lender may make it a condition of your mortgage that you get those policies in such circumstances. However, the other issues (tree roots, faulty construction and settling) are considered to be a result of homeowner negligence, and insurance companies simply will not agree to cover issues resulting from negligence that could have been prevented with greater care and maintenance of the property.
Again, if you are at all confused about what your policy does or does not cover, your best bet is to reach out to your insurance provider for more specific information so you know how best to proceed if you’ve recently sustained foundation damage at your property.
For more information about foundation repair in Racine, WI, we encourage you to contact the team at Langenfeld Masonry & Concrete today. Our company has been in business for over a century, offering a variety of outstanding concrete and masonry services to residential and commercial customers.
Categorised in: Foundation Repair