Water damage is the most reported home insurance claim. It is usually followed by broken glass and electrical damage. Specifically, 41.2% of incidents in the home correspond to this type of damage, followed by glass breakage (16.9%) and electrical damage (11.3%).
However, this report also notes that the months of the year also influence the frequency with which these damages occur. January is usually the month in which home insurance receives the most calls for claims in several homes.
The month of January usually presents the most problems due to water damage in insurance, with 10.3% of incidents. February, March, and November are the other months in which home insurance receives the most calls for these types of claims. However, in this article, you can find out about water damage in home insurance and what they cover.
Home Insurance: What Do They Cover?
When it comes to water damage in houses, they are usually caused by a water leak or plumbing installations. Also, the costs of repair by water or smoke damage contractors and location of said faults are included. These damages may be due to:
- Water break or leak in the home
- Forget to close taps
- Leaks from adjoining or higher dwellings
Although this is the overview of this coverage, each insurer sets the water damage they consider, so not all cover the same. To avoid unpleasant surprises, carefully check the fine print on your home policy to find out what is included in this coverage.
As you can see, most home insurers cover the damages that your home may suffer due to water, although they have exclusions that, in general, are usually the same for all policies. These exclusions are:
- Meteorological phenomena. It refers to the damages that can be caused by floods due to rain, landslides, or other possible damages caused by natural phenomena.
- Damage from moisture or condensation of the water.
- Damage derived from poor maintenance of the home, or from a security that does not meet established standards.
- Repair of household appliances that may have caused water damage.