If you live near a river or close to another body of water that’s likely to overflow, you might be worried about whether or not your homeowner’s insurance will cover damage from basement flooding. The answer might depend on the insurance company that you use and the specifics of your policy details.
As a general rule, most homeowner’s insurance policies don’t cover any form of damage that results from flooding. Every homeowner’s insurance policy includes excluded perils — those are situations during which your home can be damaged that you won’t be able to claim compensation for. Flooding is one of the most commonly excluded perils, meaning that unless you have a special clause in your policy, your homeowner’s insurance probably won’t cover basement damage after a flood.
If you live in a high-risk flood zone, you might want to purchase a separate flood insurance policy. Flood insurance policies are backed by the Federal Emergency Management Agency (FEMA) and are sold through private insurance companies. Unlike most types of insurance, FEMA sets the pricing for flood insurance policies based on your location, meaning that you won’t need to shop around for policies to ensure that you’re getting the best price.
Beyond insurance, you should take steps as a homeowner to protect your home (and in particular, your basement) before a flood occurs. A comprehensive basement inspection in Philadelphia from a company like Rightway Waterproofing can ensure that your home isn’t currently suffering from a mold problem that can be made worse after a flood. Additionally, basement waterproofing experts can help you protect the most vulnerable level of your home with comprehensive waterproofing services.Are you interested in learning more about how Rightway Waterproofing’s basement company in Bucks County can help you protect your property? Give us a call today to learn more or schedule your appointment for service.