Back to Tips Index | Water Damage
What? Is it covered (by standard insurance policies)
|1. Storm damage
(Storm as qualified by the Meteorological Institute)
|2. Snow, Hail damage (at the time of the storm)
*Snow lying on your roof for 2 weeks and causing slow damage is not covered
3. Flood damage
|4. Rain Damage (Seepage into walls or roof)
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
(i.e: Your carpet is damaged or you have to repaint)
|7. Damage to Third Party
(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.