Does Renters Insurance Cover Water Damage?
Renters Insurance does cover water damage for the renters personal property, such as furniture or a computer….but the renter’s insurance policy will not typical cover water damage to the property’s structure.
The property owner’s insurance policy will be responsible for covering the water damage to the structure. This is important when deciding to place a water damage insurance claim.
Learn the 3 Secrets You Should Know Before Placing a Water Damage Insurance Claim
Water Damage that is Covered by Insurance
The types of water damage that is covered in a water damage insurance claim can be described in 3 categories.
- Broken Pipe or Burst Pipe Water Damage Claim
- Flooded Basement of Drain Backup Insurance Claim
- Appliance Water Damage Claim
All 3 of these categories are covered in a homeowners insurance policy but some scenarios can be limited depending on the circumstances.
Broken Pipe or Burst Pipe Water Damage Claim
A broken or burst pipe is covered and not limited to lower amount than the limit of the insurance policy. This will cover all the water mitigation and repair services to return the home back to its original condition.
It will also cover the personal property items that were affected by water.
Flooded Basement or Drain Backup Insurance Claim
Flooded Basements and Drain Backups are typically limited to $5000, $10000, or $25000. This is dependent on the insurance company and how the insurance agent wrote the original policy.
When a homeowner is experiencing these types of water damage it is important to double check the coverage before you begin the water mitigation services.
Appliance Water Damage Claim
When water damage is caused by an appliance the water damage insurance coverage is similar to a broken pipe but the main difference is the repair or replacement of the appliance is not covered by the insurance company.
The insurance policy will cover the emergency water cleanup services and repair services…but it will not pay for the source of the water damage.
