Why Your Homeowners Insurance Policy Probably Won’t Cover the Damage of Your Basement Flooding

This summer, abnormally severe rainstorms across the country have resulted in the flooding of hundreds of thousands of basements across the country.

But unfortunately for the homeowners of these houses that received foundational water damage due to these basement floods, the news that their homeowners insurance policy won’t cover the cost to repair the damage probably comes as an unpleasant surprise.

According to an August 14 Detroit Free Press article, flood damage isn’t covered by the majority of standard homeowners insurance policies throughout the U.S. Even worse, these policies won’t cover damage to a homeowner’s possessions that had been in the basement during the flood, either.

And while a homeowner can purchase a separate flood insurance policy to finance the cost of foundation repair and basement appliances like furnaces, air conditioners, washers and driers, flood insurance doesn’t offer financial protection against damage to carpeting, wall paneling or floor tile in a flooded basement, the Detroit Free Press reports.

“Insurance companies are notoriously good at wiggling out of obligations to cover flood damage, they generally only cover very specific situations,” says Austin Werner, Owner of The Real Seal, LLC. “Homeowners need to do preventative maintenance and have a basement inspection done to ensure that there are no underlying problems. It is better to be proactive better than reactive in these situations.”

An August 12 Fox News article advises that homeowners living in flood zones invest in a flood insurance policy as well as get a basement waterproofing done. These policies are offered by some private insurance providers along with the National Flood Insurance Program, the article states.

A home is the biggest investment one can make — so it’s important for homeowners to protect their investments with the right precautionary measures to prevent financial hardship if a flood occurs.

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