Many homeowners are surprised to learn that some of the most common and costly causes of home damage may not be fully covered by a standard homeowners insurance policy.
One coverage that has become available in recent years is Service Line Coverage. Many homeowners are unaware they may be responsible for underground utility lines located on their property. If a buried water, sewer, gas, electrical, cable, or internet line fails, the cost to locate, excavate, repair, and restore the property can be significant. Depending on the carrier and policy, Service Line Coverage may help pay for repairs when underground service lines are damaged due to causes such as wear and tear, corrosion, freezing, tree root intrusion, or accidental damage. It may also help cover excavation costs and repairs to landscaping, driveways, or walkways affected during the repair process.
Another newer coverage option addresses hidden water seepage and leakage within the home itself. Historically, damage caused by long-term or hidden water seepage and leakage was often excluded under homeowners insurance policies. If a slow leak behind a wall, under a floor, or above a ceiling caused damage over time, homeowners frequently found themselves responsible for the repair costs. Very recently, some insurance carriers have begun offering optional coverage designed to help fill this gap. Depending on the carrier and policy, this coverage may help protect against certain types of hidden water seepage and leakage originating from plumbing systems, appliances, HVAC equipment, and other household systems. Hidden leaks can go unnoticed for weeks or months and may result in costly repairs, including damage to walls, flooring, ceilings, and other areas of the home. Some endorsements may also help cover the cost of accessing the source of the leak when covered damage occurs.
Coverage options, limits, and eligibility vary by insurance company, so it’s important to review your policy to determine whether these protections are available and whether they may be a good fit for your home.
If you’d like us to review your current coverage or discuss available Hidden Water Seepage & Leakage Coverage and Service Line Coverage options, please contact our office to discuss or schedule a review HERE
We’re here to help you understand your coverage and make sure your home is properly protected.