Have you ever wondered if you have homeowners foundation coverage on your home insurance policy? If you’ve never thought about it, you should look into what your insurance covers and what it doesn’t. Just as with anything else, coverage for foundation damage is going to depend on what’s considered a maintenance issue and what’s beyond your control.
Fortunately, you have various scenarios where damage done to your home’s foundation will be covered without question. And if not, you might have some laws that still protect you. In Texas, a problem that used to be ignored by homeowners insurance is now covered.
While flooding itself requires a separate policy from your homeowners insurance, any flood damage done to your home’s foundation will be covered. That’s simply because you have no control over a flood, even if you live in a flood-prone area. And with the chances of longstanding water after a major flood, damage to your foundation could be severe. Keep in mind that the insurance company will likely have an engineer come out and assess how much damage there is. You can do the same thing when submitting your claim.
Even though you’ll need a separate earthquake insurance policy, an earthquake that destroys your home’s foundation is going to be approved for coverage. The chances of foundation destruction are much greater when the ground shakes, plus the cost would otherwise be astronomical without insurance. There also isn’t anything you can do to prevent it, unlike living in an area known for flooding. Again, don’t hesitate to hire a professional engineer if you can to prove the extent of your damage.
Texas Law for Bursting Pipes
If you lived in Texas prior to 1998, you might have heard about a longstanding battle between homeowners insurance companies and homeowners regarding damage done to house foundations from leaking water pipes. Insurance companies there refused to cover such a thing during those years, hence bringing frustration to those unable to know if they’d have to pay for foundation damage if their water pipes leaked. The Texas Supreme Court finally ruled that the HO-B forms on homeowners insurance policies had to include coverage for foundations ruined by water pipe issues.
For those who live in Texas, this law added a new layer of unlimited protection that didn’t necessary set a precedent elsewhere.
Remember that when you search for a homeowners insurance policy that covers foundation damage, be sure to go through an independent insurance agency. They’ll have many more options to choose from so you can see what your most affordable options are. Despite Texas being an exception, check your state laws for changes mandating homeowners insurance cover foundation repairs to your home.
Don’t ever let accidents you can’t control rock your own foundation in whether homeowners insurance covers what you need.