Middendorf Insurance - News
Water Related Issues
This article was orginally posted in March. However, with all the recent rain we thought it appropriate to re-post. Give Middendorf Insurance a call for further information.
Frequently the water’s path and pooling areas are places we would just as soon keep dry. If not discovered and quickly addressed, water and the materials it carries with it can cause significant damage to your property. Below is a brief discussion of three of the most common causes of water related claim situations.
Water and/or Sewer Backup through drains or sumps and related equipment can result in major damage and clean up costs to properties. Most property policies will exclude coverage unless it is provided by an additional cost endorsement in which case a separate coverage amount and deductible will likely apply. Many insurance companies impose limitations on when such coverage can be added to a policy such as at inception, a policy renewal date or following a specified waiting period. If you believe you don’t need such coverage because your property does not have a finished lower level, take a close look at common items that could be damaged—furnace, water heater, soft water equipment, and stored personal property.
Water Seepage refers to water and/or water-borne material below the surface of the ground which exerts pressure on or seeps or leaks through a building, foundation, sidewalk, driveway, swimming pool or other structure. These instances are generally regarded as maintenance issues and are commonly excluded from coverage and not available by endorsement. If dampness is noted, search for a source and correct the situation.
Flood, surface water, overflow of a body of water and other similar incidents are among those regarded as the causes of “water damage” which are generally excluded from coverage. These are among the types of situations that can be addressed through a flood insurance policy offered through the National Flood Insurance Program —a product available at Middendorf Insurance Associates. Coverage is far broader than you might think and can include losses from spring thaws, heavy rains, failures of dams or levees and excessive runoff due to new development.
Are you really covered for water related losses? If you are uncertain about your risks and options, now is the time to call Middendorf Insurance Associates at 515-252-1414. It’s best to know your options now rather than when it is too late.