Nothing can rock a homeowner to his core like discovering his home is having foundation issues. Knowing that coverage is in place to cover expenses incurred in foundation repair and any damages that may have occurred because of the underlying issues can go a long way toward providing peace of mind for the average homeowner. But what exactly does your homeowners insurance policy really cover? Understanding what it will and will not cover can help you make the best possible decision regarding purchasing additional coverage that more adequately meets your needs.
To determine whether your policy covers foundation issues, you will need to read the wording of your policy carefully. Many times, issues that occur from ground settling are not covered under a basic homeowners insurance policy, however, issues that occur from a sinkhole opening up underneath your home might be covered. Depending on how your specific policy is worded, there are also times when the repair of a broken pipe inside your home’s cement slab foundation may not be covered, but the water damage incurred within your home because of the broken pipe may be covered.
We understand that in all the busyness of life, one of the last things you want to do in your free time is to study the paperwork received when you first purchased your policy. To understand more about the coverage provided by your current policy, contact us. Our friendly associates will do their best to explain the details of your policy for you, and ensure you have the coverage that is appropriate for your situation. Don’t hesitate; if you wait to purchase additional coverage until you need it, it is already too late. We look forward to hearing from you today.
Robert Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953. Oyer, Macoviak and Associates are vested members of the community who are committed to doing business face-to-face and being your insurance advocate in times of need.