When your home has been in need of repairs or has damages, it’s easy to assume that your homeowner’s insurance will cover all necessary repairs. When it comes to foundation problems, however, this is rarely the case. Here is a quick overview of what every homeowner should know about foundation repairs and homeowner’s insurance.
What does a typical homeowner’s policy cover? Most homeowner’s insurance policies do not cover structural damage to a building, and hence exclude most types of foundation damage from coverage. However, for an additional fee, you can usually add a “dwelling foundation” rider onto your homeowner’s policy. It is important that you are aware of what is covered by any riders that you choose to purchase.
How can I tell what my foundation rider covers? By law, your homeowner’s policy must list the types of perils that are covered under your policy. Many policy riders cover foundation damage that is caused by water leaks and burst pipes, but foundation damage that is caused by settling or shifting foundations is generally not covered. Damage to your foundation caused by earthquakes and flooding is also excluded from coverage. However, you can purchase policies that cover these perils separately.
How do I know if I have a problem to begin with? At Structured Foundation Repairs, Inc., we specialize in foundation repair and drainage correction. We provide timely evaluations, expert repair, and professional installations to residential and commercial customers in the Dallas and Ft. Worth area. Call our team at (972) 484-1200 to set up a free evaluation today, and visit us at www.structuredfoundation.com to read more about our services.