Generally, dwelling coverage on your homeowners insurance covers foundation repairs of your home. However, not all issues relating to your foundation are covered. Hence, it’s essential to understand the different types of homeowners insurance coverage so you can sleep better knowing your assets are protected at night. Here’s what you should know about foundation repairs and what’s covered in homeowner policies.
What Causes Foundation Damage?
Damage can occur to your foundation from numerous factors. Since your home’s foundation touches the ground, it’s exposed to many environmental factors that degrade it. Temperature, weather, drainage systems, and water accumulation are key factors that take a toll over time.
What Are the Signs of Foundation Damage?
Slanted floors and doors that don’t close properly indicate that something may be wrong with your foundation. If you discover cracks in basement walls, it’s another indicator that foundation damage is an issue. Too much moisture in a basement further points to possible foundation damage.
You can protect your foundation by ensuring the soil isn’t too wet or dry. Another helpful tip is to direct water from drainpipes away from your home. Watering the lawn further helps the foundation endure.
How Does Homeowners Insurance Cover Foundation Damage?
Your home insurance coverage for foundation repairs is in Coverage A (Dwelling coverage). It lists the perils that it covers and possible exclusions for what it doesn’t cover. These perils are natural disasters beyond anyone’s control, such as tornados, windstorms, and fire. Certain types of water damage, such as a burst pipe, are covered in a standard plan. Vandalism is also covered if someone breaks a window or damages other parts of your property.
What Is a Slab or Foundation Leak?
The foundation of many homes is a concrete slab. Leaks can develop in the concrete, which can degrade the foundation. Home buyers must find out before signing papers if any foundation leaks exist.
After moving in, homeowners are expected to inspect their homes as part of routine maintenance periodically. Leaks or cracks in the foundation that develops over several months or years may not be covered. Insurers consider slow leaks to be a maintenance issue.
Will Your Homeowners Insurance Cover Foundation Cracks or Settling?
Cracks in your foundations are protected by Coverage A if they meet the criteria stated in the policy. Strong winds can knock down telephone poles, damaging property and injuring people. Covered perils generally reflect sudden unforeseen events. The policy does not cover damage due to negligence or improper maintenance.
Does Homeowners Insurance Cover Foundation Movement or Sagging Floors?
Sagging floors are commonly caused by rot, which is not covered by your dwelling insurance. It will also not cover damage to the foundation due to shifting or settling of the earth. Additionally, you may need special coverage for extreme perils such as earthquakes and massive flooding.
Make Sure Your Foundation Is Covered with Family Financial Insurance Services!
Part of choosing the right homeowners insurance includes coverage for foundation repairs. Contact our Family Financial Insurance Services agents for more information on protecting your foundation and getting started with the right insurance coverage.