Homeowners are encouraged to get insurance policies that cover water damage given how big the risk is. Water damage can be triggered by a wide range of causes including natural disasters as well as accidents. However, with a great water damage policy, you can get a worthwhile settlement that will restore and repair your property.
To successfully make your water damage claim, it is prudent to hire a public claims adjuster. You can also consult claims adjusters for any clarification. Read on for exclusive answers to frequently asked questions about water damage claims as provided by the adjusters.
How do Storm Damage Claims, Flood Insurance Claims, and Water Damage Insurance Claims Differ from Each Other?
Standard business and homeowner insurance policies are supposed to cover the risk of water damage that may come up accidentally or suddenly. However, the policy does not cover any damages that may be a result of “Acts of God” like mass flooding that may be triggered in the event of a windstorm, tornado, or hurricane. Therefore, it goes to imply that a water damage claim is quite different from a flood or a storm claim.
Does a Water Damage Insurance Policy Cover a Flooded Basement?
There are special instances where a flooded basement will be covered under a water damage insurance policy when it comes to the business or homeowner insurance policies. The flooded basement will not be covered if the water damage is triggered by overflowing rivers from storms. In contrast, a homeowner may be compensated if the water damage arises from sewer back-up, overflow, a burst pipe along with other instances that may occur.
Do Insurance Premiums Go Up After Filing Water Damage Claims?
Indeed, there are chances that your insurance premiums will potentially increase after filing for a water damage claim. Insurance providers are likely to increase the renewal surcharge or the premium rates for preventable causes of water damage such as toilet overflow, water heater leak, broken pipes, and so on.
Any surcharges will often apply for a maximum period of 3 years. Therefore, before filing a water damage claim, it is prudent to consult a public insurance adjuster to ascertain whether you are making a move that is in your best interest financially or whether your claim will reflect negatively on your premium rates.
How Can a Public Insurance Adjuster Help In the Case of a Denied Water Damage Claim?
It is possible to reverse a denied water damage claim with the intervention of a public insurance adjuster. There are many benefits of hiring a public adjuster when making water damage claims. A proper insurance adjuster will keenly investigate your case and provide accurate documentation as well as proper damage valuation to ensure you get a fair settlement.
Moreover, the adjuster will provide a wide range of options depending on whether the claim has been underpaid, delayed, or denied. Essentially, the adjuster will be of valuable help in case of a denied water damage claim and help you decide the best way to tackle the drawback.
Can an Insurance Policy Cover Old and Neglected Roofs with Water and Roof Damage Claim?
Ideally, many insurance providers will only cover water damage claims. The roof damage claim will be left out in this scenario. Typically, insurance providers have clauses about basic maintenance as well as “wear and tear” exclusion. Thus, homeowners should not expect insurance providers to provide compensation for items that have not been maintained accordingly or items that are nearing the lifecycle end. Nonetheless, many insurance companies cover any losses that result from water damage.
There are many questions about water damage that we have not yet covered in our piece. You can still get your questions about water damage answered exhaustively by a skilled and experienced public insurance adjuster. The adjuster will investigate and document your case expertly to help you get worthwhile compensation.