Insuring KC Homes Against Foundation Damage

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Insuring KC Homes Against Foundation Damage

It’s halloween and talking with an insurance companies might be the scariest things you’ll do this fall. You pay them money every month, and when it comes time that you actually need to use your insurance, it can be like pulling teeth (debatably, an equally scary experience) to get what you need and get them to honor their half of the agreement. It can be a not so pleasant surprise to find that your home has foundation damage, it can be an even less pleasant surprise to find that not one penny of it is covered by your home owner’s insurance!

Unless you’ve got stellar insurance, your house may not be covered when it comes time to repair the foundation. Since homeowners insurance is designed to protect your home and property from only a limited set of ‘perils,’ more than likely you’re not covered.

Most homeowners insurance covers damage from fire, wind, hail, lightning, vandalism and theft, and it does not cover damage from floods or earthquakes. Since the cause of foundation damage is often from shifting soil or changes in the groundwater, this does not count as one of the covered perils. In fact, water damage in and of itself is not often covered.

Uncovered Water Damage

This kind of damage might not be covered with insurance!

Now, because a drought or abnormally wet conditions can cause earth movement, sometimes these damages are covered under earthquake insurance. Being that we’re in the Kansas City area, where earthquakes are rather unlikely, getting earthquake insurance could actually be a relatively inexpensive endeavor! Make sure to talk with your insurance agent to confirm that these kinds of foundation damage would be covered from things like droughts or wet conditions. In addition, your insurer might offer a water-backup endorsement for damage from sewage or water lines, and if these resulted in damage to the foundation then your expense for repairs would most likely be covered.

Especially if you live in an older home, you’ll definitely want to plan for such an eventuality! This means finding an insurance company that will be willing to insure your home’s foundation or planning ahead and saving to pay for the repair yourself.

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