Insurance Tips
Back to Tips Index | Water Damage
What? Is it covered (by standard insurance policies)
| 1. Storm damage (Storm as qualified by the Meteorological Institute) |
YES |
| 2. Snow, Hail damage (at the time of the storm) |
YES* *Snow lying on your roof for 2 weeks and causing slow damage is not covered |
3. Flood damage
|
YES |
| 4. Rain Damage (Seepage into walls or roof) |
NO |
5. Damage to pipes, sewage system,boilers etc.
|
YES (but….) Exclusions: a) Damage caused by earth movement – not earthquake. b) Damage caused by faulty planning or building. c) Damage caused by normal wear and tear. In simple terms, a burst pipe is covered, including all work necessary to repair it. A 15 year old boiler that "dies", is not covered. |
| 6. Water Damage to contents of building |
YES (i.e: Your carpet is damaged or you have to repaint) |
| 7. Damage to Third Party |
YES (ie: Your bathtub overflows into your neighbours apartment, destroying his antique collection.) |
Claims: What to do?
Most Insurance companies have special "Water Damage" Contracts
that deal with these problems. If you are insured through your mortgage,
you will have to contact their contractors.