When buying a home, odds are you’ll buy homeowner’s insurance as well. However, you’d be surprised how many homeowners have no idea what’s actually covered. For example, does your homeowners insurance cover water damage?
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Flooding – Standard policies do not cover water damage caused by floods. You’ll need to purchase additional flood damage. Do a little research and find out if your home is located in a flood zone or if the area you live in is prone to flooding. The good news is, flood coverage is pretty affordable in low-risk areas.
- Mold – If mold in your home was caused by a burst pipe, then your insurance may cover it. However, if it was caused by an uncovered peril, it won’t. For example, if your home flooded and mold grew as a result but you don’t have additional flood insurance, then you won’t be covered.
- Sewage back-up – A backed up sewer can cause a lot of water damage to your home. This will also require additional coverage.
These are a few things to be aware of when checking your homeowners insurance. Be sure to contact us at Parker Young for more information about homes with mold today.