Foundation issues in your home can be a homeowner’s nightmare, causing concerns not only about the structural integrity of your house but also about the financial burden of repairs.
Amidst these worries, understanding what your insurance policy covers can provide much-needed clarity and peace of mind.
From insurance jargon to uncovering the types of damages you may face, let’s demystify this crucial aspect of homeownership.
What Foundation Repairs CAN Be Covered by Your Insurance?
The coverage of foundation repairs by insurance depends on the specific policy, the cause of the damage, and the type of insurance you have.
The types of damages that are covered are those classified in the “act of god” category.
Usually, that kind of damage is caused by the following factors:
Remember that each insurance policy is unique, and coverage can vary significantly. It’s advisable to consult with your insurance provider directly to understand the specifics of your coverage regarding foundation repairs.
What Foundation Repairs ARE Not Covered By Your Insurance?
Homeowners insurance typically does not cover damage resulting from lack of maintenance, wear, and tear, or gradual deterioration. If the foundation damage is due to these factors, it is unlikely to be covered by insurance. Most often the following cases are not included in the compensation for foundation repair:
- Earthquakes and Floods: These two natural disasters cause the biggest issues for your foundation. However, they require a separate policy. Damage caused by these specific natural disasters is not covered by a standard homeowner’s policy. If you live in an area prone to floods or earthquakes, you might want to get a separate earthquake or flood insurance policy that will cover your foundation and your overall home in the case of such disasters.
- Normal Wear and Tear: Insurance policies usually do not cover foundation repairs resulting from gradual wear and tear, settling, or aging. This includes natural soil compaction over time, which can cause the foundation to sink.
- Faulty Construction: This is where home inspections become crucial. If your foundation company does not provide quality and stable construction, future repairs will likely come out of your pocket. When you’re buying or building a home, a professional inspection is absolutely necessary to ensure that your foundation is in good condition.
How To Prevent Foundation Damage?
To avoid high costs not covered by foundation insurance, you should make sure you take all the steps to prevent foundation damage and hire a professional foundation repair company.
Keep an Eye on Your Trees
Make sure that you are careful with the growth of trees in your yard. Tree root growth is one of the most common factors that causes issues to a foundation.
Schedule Regular Foundation Maintenance
Early detection can prevent minor problems from escalating into significant damage. Keep an eye out for signs of foundation issues, such as cracks in walls, uneven floors, or sticking doors/windows. Use professional basement maintenance by a foundation repair company to test your sump pump, check for mold, and ensure your space is healthy and dry.
Get a Home Inspection Before Moving Into a New Home
It is crucial to get an inspection to assess your foundation before you settle into a new home. Additionally, consider hiring a professional foundation inspector to assess your home periodically. These experts can identify potential issues early and provide recommendations for preventive measures.
Ensure Reliable Protection for Your Home
Understanding the complexities of foundation repair insurance coverage empowers homeowners to safeguard their most valuable asset.
By demystifying the terms, conditions, and limitations of insurance policies, you can make informed decisions, ensuring your home is protected against unforeseen foundation challenges.
Being proactive is key. Give us a call to schedule a routine inspection, analyze your foundation risks and provide strategic steps in preventing and protecting your home.
