Your home is probably one of the largest asset you own and understanding the types of water damage that can occur is paramount to ensuring you have the right insurance policies to protect this important investment. It can make all the difference between a minor inconvenience and a catastrophic financial loss.
A standard homeowner's policy will provide basic coverage and may reimburse your losses from water damage due to broken pipes, ice dams, frozen plumbing, faulty plumbing, accidental overflow, water damage from extinguishing a fire, a leaking roof (coverage would apply only to the home interior, not the roof itself) and depending on your policy you might also have water back-up coverage - but it wont pay for flood damage.
If your home is in a region that is susceptible to water damage from sources such as melting snow, overflowing of nearby bodies of water, heavy rains, or even wildfires, you should ask your agent about adding protection in the form of flood insurance policy offered through the National Flood Insurance Program (NFIP).
By definition: homeowners insurance may pay for water damage due to broken pipes, flood insurance pays for damages caused by the rising of a body of water that covers normally dry land.
Understanding the differences between home insurance and flood insurance can be confusing; Just ask us - we can explain the differences and help make sure you have the right coverage for your specific situation - we can give you a free flood quote.