Is Foundation Repair Covered By Insurance?

Most homeowners would reason that their homeowners insurance should cover any damage that is not the homeowners fault. However, that’s not how insurers reason; they will have a list of events they accept and events they reject. Events that are considered too risky, such as earthquakes and floods, are unlikely to be covered.

Unfortunately, the same rule applies to foundation damage – if it is too risky, the insurance company is unlikely to take responsibility for the repairs. That means the events covered by your homeowners insurance are those less likely to occur, as the following post reveals:

For your foundation repairs to be covered by insurance, they have to be caused by an event your company ‘accepts’. Events homeowners policies generally cover that could cause foundation damage are:

Events You are Covered for

  • Lightning or fire
  • Explosions
  • Vandalism
  • Collapse weight of snow, ice, or sleet
  • Windstorm
  • Riots or civil disturbances
  • Falling objects
  • Water damage from plumbing, heating, or A.C. overflow
  • Damage caused by aircraft
  • Damage caused by vehicles
  • Volcanic eruption

If any of the above caused your foundation damage, then you can file a claim for your insurance company to reimburse you for the repairs. Read full post at Value Penguin…

From the list above, you can probably tell that most foundation damages will not be covered by your typical homeowners insurance policy. This is because most insurers don’t cover the most common causes of foundation damage, such as natural settling.

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To confirm whether your foundation damage is covered or not, you need to establish what caused the damage. For instance, while you won’t be covered for damage resulting from a faulty construction, you might be covered if the damage is caused by a burst pipe. The following post discusses how insurance companies look at foundation damage and repair:

When Home Insurance Does Not Help

There are many situations in which home insurance will not foot the bill for a crumbling foundation. Insurance covers accidental and unavoidable problems. This often does not include typical soil erosion. It often doesn’t cover contractions of the foundation due to poor construction either.

Your home insurance policy will typically exclude this type of coverage. Insurers view the conditions that cause this type of damage to be normal maintenance on the home. It is typical wear and tear.

  • Were you able to prevent this from occurring?
  • Could you have improved or minimized risks before the foundation damage occurred?
  • Did it occur over time or suddenly?

Asking these questions can help identify whether home insurance covers foundation issues. Read full post at Garland Insurance…

Asking the questions listed in the post above may help identify whether your specific foundation issues are covered. However, it is still advisable to speak to your insurer and find out about your specific policy.

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Depending on the natural occurrences that are prevalent in your area, you might be covered for foundation damage under a specialized insurance policy. These specialized policies include flood and earthquake insurance policies. The following post discusses flood insurance and whether it would help in case of foundation damage:

What About Soil Runoff Damage To The Foundation?

Homes experiencing flooding sometimes suffer damage to the foundation. This can often happen as a result of soil runoff. The waters from a flood can pull soil away from the foundation, exposing it to cracks, settling and other issues. When this happens, it can lead to very costly repairs.

If you have this type of damage, it is very important to take the following steps:

  1.  If you notice any runoff occurring, make repairs immediately to protect the foundation.

  2.  Report any damage from the flooding to your insurance agent. He or she will inspect the property.

  3.  Take action as soon as you notice damage to the foundation — such as cracks, settling, or water leaks. Don’t allow the problem to go on unattended. Read full post at Affordable Insurance Group…

While a specialized policy may cover the cost of foundation repair, this means taking out an insurance policy separate from your standard homeowners policy. Although this is an extra cost, it is highly advisable if you live in an area that is highly prone to earthquakes or floods.

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If you need your home’s foundation assessed, it is best to work with the professionals. An expert foundation repair specialist will tell you exactly what caused the damage and offer advice on what action to take, and whether an insurance claim would be successful.

Texas Foundation Pros recently partnered with GL Hunt who specializes in foundation repairs and has been providing excellent services to its customers for the last 30 years. Call us today on (469) 620-1032 to schedule your home inspection in Fort Worth Texas. We offer free inspection for homeowners as well as excellent financing options. Customer satisfaction is our priority, which is why we stand behind our lifetime warranty. To find out more information, check out http://ftw.texasfoundationpros.com/

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