What Coverage Do You Need for Broken Pipes?

8/23/2021 (Permalink)

Accidental water damage is often part of dwelling coverage, personal property coverage and/or loss of use coverage. Speak to your insurance representative to make sure water damage is a covered loss in each of these home insurance policy components.

Dwelling Coverage

Dwelling coverage is a main component of a home insurance policy. It can help pay to rebuild or repair the physical structure of your home in the event of accidental water damage, fire, severe weather, vandalism or another covered cause of loss.

Your dwelling coverage limits are based on the estimated cost of rebuilding your home. It’s a good idea to check in with your insurance agent about your home’s replacement cost yearly, especially after making improvements. Even small improvements can affect the cost to rebuild your home.

Property Coverage

Person property coverage helps cover your belongings, such as furniture, clothing, sporting goods or electronics, in the event of a covered loss – whether they get damaged at your home, apartment or anywhere in the world.

In the case of accidental water damage from a burst pipe, this means payment for professional cleaning or replacement of furniture and personal belongings, as long as accidental water damage is a covered cause of loss in your policy.

Many policies provide for personal property to be covered at actual cash value rather than replacement cost. You may be able to enhance your policy with full replacement cost coverage.

https://www.travelers.com/resources/home/insuring/does-homeowners-insurance-cover-burst-pipes

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