When you find your house needs a foundation repair, it can often feel like a daunting task. Not only will it require loads of work, but it can also be a big hit to your bank account. That is why it is important to know if a foundation repair is covered by homeowners insurance. When researching foundation repair this is one of the most Googled topics searched.
To answer the question if foundation repairs are covered by homeowners insurance, unfortunately the best answer we can give you is; it depends. The main factor that is dependent is the cause of the damage.
Some reasons are easier to find than others. An obvious reason could be from some sort of weather related damage. Some not so obvious symptoms could be cracked walls, and sticking doors and windows. To find the root problem you may need to call a foundation professional to find the origin of the damage. They can also tell you the extent of your problem. Some common foundation issues are; Too much or too little moisture, faulty construction, tree root growth, plumbing leaks, and soil movement.
The Coverage A section of your home insurance policy protects the structural part of your home, this includes a home’s foundation. Unfortunately, you only will get protection if the reason is specifically named in your policy. So if your foundation issue was caused by something listed in your policy, your insurer will likely help foot the bill for repairs. If not, you’re going to be on your own. Many policies cover; fire, vandalism, falling objects, water damage, windstorms, and explosions.
Almost all home policies don’t include two of the natural disasters that can do the most foundation damage: floods and earthquakes. If you live in an area where either of these disasters are common, we recommend buying a separate natural disaster insurance policy to protect your home. Also, most home policies don’t offer foundation repair insurance when the foundation problem results from wear-and-tear. Many Insurers say that it’s the home owner’s responsibility to maintain the home.
One way to make sure your home is protected is to stay up to date on inspections. This will make sure you are ahead of any damage and keep repair prices low. If you need a quality contractor or have any questions contact us!