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Insurance Coverage for Leaks and Flooding

As a homeowner, leaks and floods are some of the scariest things that can happen to your home. Water, where it isn’t supposed to be, can cause a whole lot of damage to the interior of any house and that can result in some very large repair bills. In some cases though, the cost to repair water damage in your Oakville home may be covered under your homeowner’s insurance. Here’s what you need to know about insurance coverage for leaks and flooding in your home. 

How did the water get into your home?

While all water may cause similar damage, that doesn’t mean your insurance will see it that way. A flood may come in from a the outside of your home – like snowmelt runoff – and leak through your foundation into a basement, causing water to pool and could potentially damage any finished portion of your basement. It could also come from pipes bursting from inside the walls of your home, a bathtub leaking or a busted washing machine hose spraying water everywhere. We may not see any difference in this: a leak is a leak, but your insurance company will need to determine how the water got into your home before confirming if the damage is covered. 

What kind of coverage does your insurance policy have?

Believe it or not, there are different levels of coverage a homeowner can opt for depending on common claims in their area (if it’s prone to flooding) or based on their budget or their comfort level. When you sign up for your home insurance policy, your agent or broker will go over the levels of coverage, what each of them mean and what types of claims are covered. If you’re concerned about leak and flood coverage you can ask about specific situations and determine what kind of coverage you need from there. 

Is the standard insurance coverage enough?

Sometimes, it will seem as though a standard homeowner’s policy is sufficient for any coverage you may need but there’s more to consider. As it turns out, this is not true. In the event of a flood, there isn’t coverage for homeowners. There is some relief available from the government, but that can take a lot of time to come through and for homeowners to see any money. Since natural floods are the most frequent natural disaster to happen across Canada this should be cause for concern for homeowners across the country. 

Most insurance companies offer flood insurance – known as overland coverage – and this will give you peace of mind knowing you won’t have to pay out of pocket to fix any damages floods may cause to your home. There isn’t, unfortunately, really any coverage for leaks or floods that happen due to poor maintenance such as a toilet that was leaking and wasn’t repaired.  

Leaks and floods can cause severe damage to Oakville homes. Make sure you know what kind of coverage you have, and make any changes needed. It’s also important to perform regular maintenance on your home to check for any places water might be able to get in. 

If you suspect a problem with the plumbing in your Oakville home – or if you know you have a problem – contact A. McKenna Plumbing today. Our professionals can identify and repair the issue before it gets worse.