When people talk about the foundation of anything, there are certain images that people have in mind. It needs to be firm, solid, and of course, has to act as the base upon which everything else is built upon. When it comes to a home's foundation, words can't describe how important it is to keep it steady. Unfortunately, it's possible to have a home's foundation shift or even crack under extreme circumstances. When this happens, your home needs to get help ASAP or you'll face serious danger. Logically, it would make sense for a homeowner's insurance policy to cover this. Ignoring a broken foundation can easily lead to stress on all the bolts in the home's supports, not to mention roofs caving in. Whether the companies do or not, on the other hand, remains to be seen. So, what's the deal? Does homeowners insurance cover foundation repair?
Is Foundation Damage Covered By Homeowners Insurance?
This gets dicey. Many major events that would cause foundation damage, including fire and impact from vehicles crashing into it, will be covered under the policy. However, a typical homeowners insurance policy will not cover the most frequent causes of broken foundations. So, on paper, all foundation damage that you get from "acts of God" like fire and tornadoes will be covered by the policy. However, if the reason for your foundational damage is more mundane, chances are your claim will be denied. Wear and tear, natural settling, earthquakes, and flood damage do not get covered by a standard policy. If you have damage from these things, you might have to dig into your own pocket. The only time that this is not true is if you have a waiver or rider that covers additional damage of a specific type, such as flood insurance.
What Should You Do if You Have Foundational Damage?
Before you give up on house insurance-paid foundation repair, take a deep breath. There still might be a chance that you will be able to get some kind of payout or find a way to alleviate the pain in your wallet. The first thing you should do is call your agent to see if they have any repairmen in the area who work with the company. Call one over and ask the repairman to perform an inspection and give you a repair quote for the minimum damage possible. In some cases, they will be able to make a case for the insurer to cover the damage, or cut you a discount. While it's a gambit, it's always worth it. After all, you are going to need foundational repair sooner rather than living.
Important Things To Remember When You're Dealing With Foundation Insurance
Your home's foundation is naturally going to be included in the overall homeowner's insurance packet that you get. That means that you need to make every effort to maintain your foundation if you want to keep your coverage. To do this, all you have to do is try to avoid shifting ground and soil around the home. If you notice that your soil tends to shift around easily, hiring a landscaper or getting firmer soil can help. When it comes to foundational damage, there are two riders that you want to seriously consider buying: flood insurance and earthquake insurance. Floods move around the soil at a breakneck speed, often demolishing foundations when they occur. If your home is near a fault line, earthquakes can also pose a threat to your home's stability. While these add-ons are pricey, you will soon find that they pay for themselves should you have inclement weather harm your home.