Foundation Repairs Covered Homeowners Insurance

Foundation Repairs Covered Homeowners Insurance – Home insurance may cover some foundation repairs, but there are also many causes of foundation damage that most policies don’t cover. Unfortunately, damage over time is also an d that is not typically covered by insurance.

This may be annoying to hear – especially when you consider how expensive your home’s foundation issues can be to fix! A dry, well-insulated and stable house requires a strong foundation, so it’s good to know:

Foundation Repairs Covered Homeowners Insurance

As with most types of property damage, home insurance covers damage to your footing caused by a covered peril (ie, a covered cause of loss) as specified in your policy.

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So what is a covered risk? Again – it depends on your strategy. However, most homeowners insurance covers damage caused by:

Basic coverage policies and broad coverage policies (HO1 and HO2 respectively) list specific coverage risks and exclude all others. Special coverage policies and comprehensive coverage policies (HO3 and HO5) provide open-risk coverage – similar to our home and property insurance. These policies cover all risks except risks not expressly covered by the policy.

Your homeowners insurance may not cover foundation problems if they are caused by factors other than a covered peril. Unfortunately, non-covered causes are one of the most common problems for foundations.

For example, almost all homeowner’s policies exclude coverage for earthquakes and floods—two disasters that can cause serious foundation damage. In areas where these natural calamities are prevalent, you can cover this risk with separate earthquake and flood insurance.

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You should also note that home insurance is for sudden and accidental loss or actual physical damage. Normal wear and tear or cracking in any part of your home, including the foundation, doesn’t fit this profile, so it’s almost always overlooked or missed.

Foundations can deteriorate slowly or quickly due to an unexpected event. Either way, it’s important to know how and why your feet can be damaged.

Your home’s foundation is in direct contact with the ground, so many environmental factors can damage it. Temperature changes, poor drainage, too much water, too little water, tree roots and faulty construction can all damage your foundation over time. Other common causes of foundation damage include:

If you notice any of these conditions, you’ll want to immediately inspect your foundation for damage and make repairs before it gets worse.

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There are several measures you can take to protect your home’s foundation. But first, it’s important to know the warning signs of a problem foot:

Perhaps the first step to protecting your foundation (and your bank account!) is to get a thorough home inspection done before you buy a home. This way, you can avoid buying a house that already has foundation problems.

Once you’re in, keep your soil well-drained, making sure it never gets too wet or too dry. And make sure your grading is up to par, properly draining water away from your home when it rains. Another important step to keep water off your feet? If necessary, ensure your gutters and install French drains.

If you notice any cracks in your foundation, it’s best to determine the cause of the crack and repair it right away before it gets worse. No matter what type of foundation you have, it’s much easier to fix problems early than to fix major structural issues later. This is the first law of construction: no structure can stand without a strong, healthy foundation. But if your home is experiencing foundation problems or needs repairs, the first question you need to ask is the most important.

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“Homes need strong foundations to keep out groundwater, provide insulation and protect against natural earth movement,” writes Leslie Haddock-Dehart of Bankrate.com. “So as a homeowner, discovering problems with your home’s foundation can be incredibly frustrating.”

All the bad home foundation jokes aside (well, with the exception of the construction company accused of building homes without foundation), the comforting news is that home insurance protects your home’s foundation against certain risks.

Now for the fine print of standard homeowners insurance policies: some common causes of loss are not covered. The list not covered specifically includes the normal wear and tear that is common with older home foundations.

It is imperative that homeowners know what footing damage is covered by their insurance, how to spot footing damage, and most importantly for the future of your home, how to prevent it from progressing.

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“Whether or not the foundation is repaired depends on the source of the damage,” emphasizes Farmers Insurance agent Matt Mormile.

As Progressive.com notes: “Because your home’s foundation is in direct contact with the ground, it can be damaged by many environmental factors, including temperature changes, poor drainage, waterlogging, tree roots and poor construction.”

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If the former coverage section seems oddly short, that’s because coverage must be determined based on foundation problems. In other words, we have to dig deep to find the root cause of your home’s foundation-related problems.

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A professional examination is necessary to rule out the cause of your foot damage. A foundation expert can give you information on what caused the problem and a good idea of ​​how extensive the repairs will be. Most importantly, if you decide to file a home insurance claim, a foundation expert’s report will give you the proof you need.

“If you notice any signs of foot damage or are concerned about it, make an important appointment with a home specialist to verify and assess potential damage,” the U.S. News & World Report’s Mandy Sleight advises.

This brings us to the must-read section of your homeowners insurance policy for foundation damage.

All standard home insurance policies include dwelling coverage, the part of your policy that covers the physical structure of your home, attached structures, and especially your foundation. HO-3 and HO-5 home insurance policies (the most common types of coverage in the industry) provide residence coverage on an open peril basis (meaning no loss is covered that is expressly excluded from your policy).

Will Homeowner’s Insurance Cover Foundation Repairs?

Disclaimer All homeowners need to remember: Read your policy (it’s not Sports Illustrated or People, but it’s important to know) to determine what covered perils are included in your coverage. Which brings us to the bad news about home insurance foundation repair coverage…

Floods and Earthquakes: Unfortunately, most home insurance policies exclude natural disasters that cause the most damage to foundations. If you live in an area where either of these disasters are common (remember, we learned the hard way that much of Iowa lives in the middle of a flood zone), purchase a separate flood insurance policy to protect both your foundation and you. whole house.

Normal wear and tear: This includes standard home aging foundation issues. Insurance agents emphasize that it is the responsibility of homeowners to properly maintain their home’s foundation. Failure to do this will result in the homeowner being found negligent if the foundation is damaged.

Shifting or cracking foundations and sagging floors: If these problems are the result of extreme temperatures, soil fluctuations, earth movement or tree growth. Standard policies will not cover this loss as it is not considered “sudden and accidental”.

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Faulty Construction: This goes back to the first rule of construction. Foundation damage due to defective construction coverage is not covered.

To avoid this problem – and the associated out-of-pocket costs – you should get a home inspection before buying a new home.

If your home’s foundation is damaged, call your insurance agent immediately. Remember, most insurance companies offer coverage for a certain period of time after the loss event occurs. Be sure to take photos and videos to document the damage after you get the all clear from your insurance agent. Your agency can also send an assessor to look at the damage in person.

As with any insurance claim, filing a successful home foundation loss claim comes down to meeting the needs of your policy and the insurance company. Make sure you do your homework to avoid a financial home repair disaster for you, your family, and your home. Editors’ Note: Our editors’ evaluations and opinions do not influence our advertising relationships. We may earn a commission when you click on our affiliate partners’ links. Many of the links to brands we link to may be affiliate links.

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When it comes to protecting your home, a good homeowners insurance policy can help protect against the most common disasters. Many may cover your foundation damage, but your insurance company will not accept your claim in all instances.

Find out what types of foot damage are excluded from a standard homeowner’s policy and what it will cost you if your claim is denied.

Foundation damage will usually be covered by your standard homeowners insurance policy depending on what caused the damage in the first place. It may be helpful to call a professional who specializes in foundations to see what the problem may be and what caused the damage. Their report can help you decide whether to file a claim with your home insurance company, and how extensive.

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