What You Should Know About Water Damage Insurance Claims ~ The International Finance

Tuesday, 5 June 2012

What You Should Know About Water Damage Insurance Claims

One of the worst things that could happen to a home or even a business property is to be damaged by water. A lot of appliances are rendered useless after these have been ravaged by water. In addition to this, clean up and restoration can be very expensive, particularly if professional cleaners are hired and if the damage is extensive. So, getting water damage insurance is a wise option for both home and business owners.

Water Damage Insurance

What people should remember is that water damage is not usually covered by typical home insurance policies. Individuals should always check what their policies cover, and if water damage is not included, then it's time to get one from a reliable insurance company.

Common Causes of Water Damage

- Accidents
Forgetting to turn off faucets will leave water to drain out of bathtubs, toilets and sinks. Water can then flow to other places while destroying things in its path. Children often cause such types of water accidents; hence, they should be carefully watched when using water.

- Broken or Worn Pipes
Normal wear and tear of pipes and hoses occur. Because old and rusty pipes can break easily, it's recommended to have a professional plumber check the pipe system and replace aged pipes with PVC types. 

- Clogged Pipes, Hoses, Sewerage System
Many things can cause clogging. It's advisable to use drain treatments that aid in cleaning up pipes.

- Damp Basement
When basements are left damp for a long time, the dampness or wetness can seep into the foundation and affect structural integrity.

What to Do (and What Not to Do) When Filing a Claim

Do see to the problem right away. If there's a hole or a leak, fix it. Don't wait for the problem to worsen. Why? People think that they will get higher compensation if they wait for a problem to get worse. This is incorrect. If a problem is allowed to become worse, the owner of a home will most likely be charged of negligence and denied any type of water damage claim. So, it's best to fix things immediately. But make sure to document events and take photographs that can be used as proof. In addition to this, preventing further water damage is essential as this avoids serious mold problems.

Do take pictures and keep receipts and other documents that will support your claim. Keep samples of damaged items, like a soaked piece of carpet or water damaged furnishings.

Do get in touch with your insurance agent. A claims adjuster has to check and verify the damage done before your insurance agency resolves your claim.

Do check the coverage of your policy. Remember that a number of insurance companies do not cover water damage due to flooding.

Do not use the word "flood." A water damage policy is different from a flood insurance policy. There are insurance companies that include water damage coverage in the home insurance policies that they offer. As for a flood insurance policy, this is usually bought separately. Moreover, water damage claims are oftentimes more successful than flood damage claims.

About Author

Amit Singh is a founder of Theinternationalfinance.com he share his immense knowledge of Finance in this blog.

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