When to bail on a leak claim
Imagine you’ve been out of town for a long weekend. You step through the front door, kick off your shoes, and experience the off-putting sensation of wet socks.
You look down and see water — much more than you’d like. There’s been a leak, somewhere, and once you’ve got the floors dried out and identified the issue, you’ll think about filing an insurance claim.
Your home insurance policy provides protection against your home and belongings from damage caused by specific risks. These risks (usually called perils) include fire, explosions, windstorms, theft or vandalism. They usually don’t cover damage from maintenance issues, like a leaking pipe or a worn-out roof.
Plenty of people in Washington have contacted the Office of the Insurance Commissioner’s Consumer Protection staff in the last year with questions about these types of losses. It’s important to remember that not every type of damage that occurs in, or to, your home is covered under a homeowner policy.
What are exclusions?
Your home insurance policy has a section for exclusions, which are losses your policy doesn’t cover. Most policies feature exclusionary language for floods, earthquakes, pests, mold, war, and maintenance.
Back to finding that pool of water on your floor: Leakage and seepage are also usually excluded from your home policy. That’s a loss that occurs over time. But if your home has a burst pipe, and you address it quickly, you should be covered, but only if you address it quickly — usually within 13 days.
Why is this important?
Checking your home insurance policy before filing a claim could keep your premiums from rising. Claims history is an important factor in your insurance company calculating the cost of your policy, even if the claim is denied.
