There comes a moment in a home owners time where they realize that the house has water rushing through for some reason that they haven't identified yet. Sheer panic sets in and they scramble to shut down the source. Generally speaking, if the source of the water is coming from inside your home, your home insurance will cover it. But what about if the source of the water is outside?
There two different scenarios to consider on water coming from outside in that are most prevalent. First, is the water is coming through a hole in a window or roof created by a storm. Second, is when water rises and comes through the door or or some other opening. Let's take a look into the details of each.
The Hole Created By A Storm
If you have a storm that contains large hail or wind which in turn compromises the exterior of your home, most all peril home policies are going to cover this activity in short. In North Texas we have had hail stones that are large enough to force their way through the shingle, the underlay, AND the decking to create a hole in the roof. We also have winds that knock trees over into homes that can create holes as well. Since wind and hail is covered, the water damage that comes with this scenario is covered under your policy subject to the wind and hail deductible. That's the good news for you. One thing to consider is that you need to be timely in attempting to mitigate damage done to your home by this sudden entry of water. That can mean tarping a compromised portion of your roof or exterior wall to prevent further damage until a solution can be deployed. Texas homeowners collectively breathe a sigh of relief.
One characteristic of Texas is it's ability to create a flash flood when rain comes hard and fast. We see this consistently in the Hill Country, but have also seen an uptick in other parts of the state as the construction boom has happened. As more and more concrete is poured, run-off drainage patterns have changed and it is creating more flooding issues in urban areas. As water begins to rise and approach homes, the owners need to be aware that their homeowners policy is not going to protect them or replace their possessions! The only way to protect your home from water that rises and enters your home is with a flood policy.
Every home is categorized by it's risk of flooding with a letter designation. Zone X is where the vast majority of homes fall in that scale and flood coverage is very inexpensive at a few hundred dollars a year. This policy can be provided by either the Federal program or even private markets to make sure that your home and it's contents are protected. If your home falls into a more risky category like Zone AE, your lender will require you to carry this insurance per your mortgage agreement. In these higher risk zones, the private markets may be your better alternative since they can provide coverage beyond the Federal plans as well as do it more cost effectively for you..
If you have a concern around water coverage for your home, talk to an independent insurance agent like Insurance for Texans to uncover what is and is not covered. Independent agents have the ability to work across markets to make sure that your protection is rock solid no matter what comes at you.