Do You Have Foundation Repair Benefit From Homeowner Insurance?

​Homeowners insurance is what most lenders require you to have. It is a type of property insurance that covers losses and damages to your home and assets. Knowing the insurance coverage is essential, but how can you know if you have enough?

Most homeowners insurance policies protect you against accidental damage in your home. But, if the cause is due to negligence, it is unlikely that your policy can cover it. So, to address whether homeowner insurance covers foundation repair, the answer is that it depends upon the cause or source of the damage and the insurance policy. 

Simply put, your homeowner insurance does not cover every foundation issue or damage. 

Events Covered By Homeowner Insurance
As mentioned, one of the factors in identifying whether your homeowner insurance can cover foundation repairs is the type of disaster or event. 

Listed below are covered events that could cause foundation damage:

• Tornados
• Windstorms
• Lightning
• Explosions
• Volcanic eruption
• Accidental damage caused by objects such as trees, aircraft, vehicles
• Accidental water damage

Note that the listed events above are caused by accidents that are not within your control. If any of the mentioned events caused damage to your foundation, then you can rest assured that the insurance company can reimburse you for the repairs. 

Events Not Covered By Homeowner Insurance
Although you can feel relieved that your insurance may save you from the repair cost if the provider accepts it, several events are still not included. 

Earthquake or flood: Homeowner insurance does not cover damage induced by an earthquake or flooding. So before settling in a home, ensure your location is not prone to disasters. However, if it is in a zone considered high-risk for flooding or in a faultline, you may want to consider getting additional coverage, such as flood or earthquake insurance.

Poor construction or maintenance: Most policies cover damage due to sudden and uncontrollable events like fire, tornados, or windstorms but may not cover damage induced by poor house construction and maintenance.

Pressure from tree roots: Similar to faulty construction and poor maintenance, pressure from tree roots also falls into the category of owner negligence, and the insurer may not cover damages caused by negligence. You are responsible for taking preventive measures to maintain that your home foundation is strong and taken care of.

Cover Your Foundation with Homeowner’s Insurance Now
Foundation damage is one of the most frequent causes of property loss and property value degrading, and this isn't only an occasional issue. You must evaluate the causes and factors which contribute to the damage done. Your standard homeowner insurance policy may not cover the damages and losses. As a result, further precautions must be taken to avoid this.

At Family Auto Insurance Agency, we strive to provide our clients with affordable and comprehensive policies. We will always go all out to satisfy your demands. To learn more about how we can assist you, don't hesitate to contact us at (313) 285-9042 or CLICK HERE to request a free quote. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!