Couple With Buckets Catching Water Leaking From Roof

Should You File an Insurance Claim For Water Damage?

Water damage is a leading cause for homeowners filing a home insurance claim. In fact, an estimated 31% of claims were linked to water damage last year. 

That said, filing an insurance claim for water damage may not be the right move for you. In fact, it may not even be possible under your coverage.

How do you know when to file an insurance claim for water damage? What are the pros and cons of doing so?

Read on to learn more about whether or not you should seek coverage for water damage.

When Is an Insurance Claim for Water Damage Worth It?

If water has caused significant damage to your home, you may consider filing an insurance claim to receive coverage. But your home insurance policy comes with a deductible on top of your monthly premium. That means that you’ll be expected to cover a certain amount (usually several hundred dollars) before your insurance will kick in.

If the damage will cost more than three times the deductible to repair, it may be worth seeking coverage. Remember, if you file a claim with your insurance, they will want to send out a claims adjuster to assess the damage and necessary repairs. That means that they will determine how much they think it will cost — regardless of what you think it will cost. 

Whether or not you intend to file a claim, get started on restoration right away. If you wait even a few days, your insurance company may determine that some of the damage was gradual — which we’ll discuss below — and refuse to offer coverage.

When Is It a Bad Idea — or Impossible — to Seek Coverage for Water Damage?

Ultimately, if the cost to repair water damage is not much more than your deductible, it’s better to cover those costs out of pocket. Most homeowners only file a home insurance claim once every nine or ten years. That’s because each time you file a claim, your monthly premium is likely to increase.

It’s also important to note that your insurance company may not offer coverage for the kind of water damage you’re dealing with. For example, some insurance companies do not offer coverage for water damage that results from a natural disaster, like flooding caused by heavy rain. Take a look at your policy to find out what is and isn’t covered.

Almost every insurance company refuses to cover what they call gradual damage. Gradual damage refers to damage that occurred over time and could have been prevented earlier. For example, a roof leak that isn’t addressed for months that leads to mold and structural damage would be considered a gradual issue — and therefore not covered.

We’re Here to Help Protect Seattle Homes from Costly Water Damage

If you’re dealing with water damage, don’t wait to address it. Even as you are deciding whether or not to file an insurance claim for water damage, it’s important that you seek damage restoration ASAP.

Fischer Restoration is Seattle’s leading home restoration company. Contact us to get an estimate for your water damage restoration today.