Written by Bob McGuire on December 17th, 2008

Flooded Basement

Flooded Basement and Insurance Claims

Are you aware that most homeowner’s insurance policies do not have coverage for flooded basements?  Most policies require a separate rider attached to your main policy which will cover some basement flooding. The extra cost is usually less than $400 a year for this coverage, which certainly is cheaper then the payments for a disaster home loan which would require monthly payments of approximately $310 for a $50,000 disaster home loan. If it is determined that your home is in a flood zone, FEMA may well require you to purchase flood insurance. You could pay more than $800 a year for $100,000 coverage if you’re in a flood plain, But even if you are not in a flood zone, if you live in an area that gets regular rain and you have a finished basement you might consider having a flood insurance rider added to your policy. If you are thinking about buying flood insurance there is one important statistic to remember; almost 25% of all flood insurance claims came from areas not considered high risk. Flood insurance policy forms are available on the web at your insurance company web site. Or call your insurance agent to discuss coverage and costs.

Flooding
Insurance covers sudden and accidental events only–it does not cover leaks or water seeping in a basement where there is no surface water. Water entering your basement through the walls or the floors from saturated ground is not covered.  If you have groundwater problems, you need waterproofing.

Mold

If you have developed a mold problem due to moisture in the basement, you must completely kill it, or it will keep returning. Mold damage is a potential threat to any building. Mold can easily spread from a basement or crawl space to the floors and walls of the house, and mold can cause allergies and health problems. If rugs or furniture or drapes should become contaminated by mold, they should be treated to kill the mold and deodorize them, because mold smells.

Moisture or Water Damage

Some people think that any kind of damage their home may sustain would be covered by Homeowner’s insurance.  Not necessarily so.  Wood wet- or dry-rot is not covered.  Neither is mold or rust damage covered.  If you were to have a pipe break, that would probably be covered.  Dry-rot or mold caused by a slow leak would not be covered.

Basement Water

Not all basement water is caused by flooding.  Spring snow melt can leak into your basement, causing a similar problem.  You could have pipe leaks or sewer backups.  A sump pump could fail.  Any of these events can cause potentially serious problems in your basement.   Some basements flood when it rains.  In order to diagnose this kind of problem , it is best to work your way down, from the eavestroughs to the foundation.  The grade of the land next to the house has to be looked at, and then the blumbing system needs to be evaluated, both inside and outside  the house.

Claims

If you have flooding which results in more than $500 in damages to your home, you need to contact your Insurance agent and make a claim.

Oakbridge Construction is a full-service contractor.  We can handle your insurance claim repairs. We are not an insurance company, so it is best to contact your agent for details of your coverage. Then call us at 586 703 6950