Water and flood damage, along with damage to the roof, can be very difficult and expensive to repair. Even when you have insurance policies in place, you might not have quite as much coverage as you had hoped. Let’s look at exactly what types of repairs you might need, and how your insurance policies may help with these issues.
Roof Damage
Most people do not give their roof a second thought until there is a problem with it. However, many things can go wrong with your roof, and it can cost a bundle to have the problem fixed. The longer you wait for repair to the roof, the bigger and more expensive the problem will become. You could have water damage and leaks on the roof, missing shingles, ponding water, punctures, blistering and other issues that reduce the effectiveness of the roof.
When it comes to leaks in the roof, it will depend whether or not the damage is covered. A covered peril policy will usually include damage from wind, rain, hail, and fire. However, if the adjuster determines that the damage was the result of an old roof that needed to be replaced, they would not cover the damage. In addition, if the roof damage occurs during a floor or hurricane, it is not likely that it would be covered by a typical homeowner’s insurance policy.
Common Types of Water Damage in the Home and on the Roof
Water damage can come from many different locations. It could be caused by a burst pipe in the wall or a broken water heater. It could be due to rain that is coming through damage to the roof, causing leaks. The gutters of the home could have issues as well. While they are supposed to direct the water away from your home, if they have been blocked or damaged, it could cause the water to start running down the sides off the home. Water that gets into your home can cause a host of problems with your electrical system, your insulation, the stability of your home, mold, and more.
Coverage for Water and Flood Damage
The cost of repairing water and flood damage to a home can be quite high, and a typical homeowner’s insurance policy may not cover as much as you might think. In fact, many of the policies will not cover flood damage at all. The amount of damages received will depend on the extent and type of damage.
If you have pipes burst in your home, you will find that most of the damage will typically be covered by the homeowner’s policy. It can cover the damage to the surrounding walls, as well as to the frame of the home, and personal property that has been damaged or destroyed.
Another common problem that causes water damage to occur in the home is related to the washing machine. Water damage and flooding are often due to a leak in the supply hose that connects to the water supply in the home. The insurance adjuster will look at the age and the state of the washer to see whether it should be covered under your policy or not. If they determine that it was normal wear and tear, the responsibility for maintenance or replacement lies on you, and they will not likely provide coverage, unless the damage is considered accidental.
Depending on the type and extent of the damage, you will likely have to pay for cleaning fees, replacing the flooring, repairing or replacing doors, windows, and trim, repairing or replacing electronic devices, and the cost of electrical and plumbing work. The types of repairs and the number of repairs will differ from one situation to the next, of course. However, it is always certain that those repairs will be quite costly.
Be sure to speak with your insurance company first to determine when you can start those repairs. Often, they will want to have an insurance adjuster come up to look at the property and determine the full cause of the damage, as well as the extent. They can let you know more about what type of damages you can receive and when you should start with the repairs.
The Need for Professional Repair
If you plan to make repairs to your home after these types of damages, it is not something you can do on your own as a DIY project. You need to make sure you have professionals come out to your property to assess the full damage and let you know what types of repairs you will need to make. If you decide that you are going to go through with the repairs, you can get estimates as to the cost of those repairs, and you can then start to fix the property.
When the Repairs are Too Costly
What if you discover that the cost of the repairs to the home are too much for you to handle, or that you simply do not want to go through the hassle of repairs. You might simply want to get rid of the house. After the home suffers from this sort of damage, you might feel as if it would be impossible to sell, but that is not the case. You will find that many investors are looking for properties with this type of damage.
Yes, it’s true that the value of the home will have diminished and you will not get top dollar for your property. However, you can work with an investor who is willing to buy the property so you no longer have to worry about it. When the repair costs are too high, this could be the answer you have been looking to find.
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