Homeowners’ insurance policies cover damage caused by slab leaks, but it depends on many factors. Your claim will probably be rejected if the leak appears to be due to external flooding.
Negligence, earth movements, and other factors are usually not covered either. But you still have options to get the coverage you need.
Get a Professional Inspection
But how to get insurance to cover a slab leak? Slab leaks can be costly and cause a lot of water damage. They can also be challenging to catch, especially if you’re not watching for warning signs. This makes it vital to have your foundation regularly inspected by a professional to ensure any slab leaks are caught early.
Homeowners’ insurance can cover damages from a slab leak in certain circumstances. It all depends on what caused the slab leak to occur in the first place. Generally, homeowners insurance will only cover things caused by a named peril protected under the policy. For example, most homeowners’ policies cover fires and falling objects. However, slab leaks that are caused by poor maintenance or a rusted pipe won’t be covered.
In these cases, the homeowner’s insurance policy would only assist with repairing and replacing belongings under personal property coverage. This is different from dwelling coverage, which pays to repair or replace the structure of a house.
Contact Your Insurance Company
Homeowners’ insurance typically covers the costs associated with water damage, but slab leaks are more complicated. If you notice warning signs of a slab leak (high water bills, musty odors, and structural damage), you must contact your insurance company immediately.
It’s best to consult with a licensed insurance agent, as they can provide information on your specific coverage. However, most homeowners’ policies will cover the cost of repairing the damaged foundation and any personal belongings affected by the slab leak.
Remember that your policy deductible will apply to any insurance claims you file. This is especially true when claiming against water or foundation damage. Insurance claims can be expensive and time-consuming, so weighing your options carefully before filing one is essential.
Make Sure Your Deductible Is High
Slab leaks can be costly and difficult to detect. Having the proper homeowner’s insurance policy can help ease some of the financial burdens of having a slab leak. Homeowners’ insurance may cover the water damage caused by a slab leak and the repair costs. However, the homeowner’s insurance must meet several criteria for accepting a claim. For starters, it must be noted that the damage resulted from a sudden and apparent slab leak, not a gradual one.
Additionally, the homeowner’s insurance must have dwelling and personal property coverage. This would include items like furniture, electronics, and clothing. Personal belongings are typically covered by either actual cash value or replacement cost insurance. This type of coverage can also assist with the expenses associated with living away from the home while it is being repaired. Unfortunately, things like earthquakes or ground movements are generally excluded from homeowners insurance.
Consider Flood Insurance
Depending on the circumstances, homeowners insurance may cover the cost of a slab leak and any related damage to your home. The key is that a covered peril, such as a flood or a tornado, must have caused the injury. Slab leaks are difficult to spot since they occur under the foundation, and sometimes it can take months or even years before a homeowner realizes there is an issue. During that time, the damage can be extensive and expensive to repair.
Unfortunately, most homeowners insurance doesn’t protect against maintenance issues or aging pipes. If a slab leak results from that, your homeowner’s policy probably won’t pay for the repairs. However, you can find a separate service line coverage policy that does. This is an option that is worth considering for all homeowners. It will help to prevent future problems and save you money in the long run.