About one in sixty homes has an insurance claim caused by water damage. What are you doing to protect your home from water? When a new client comes to Cincinnatus Insurance seeking our professional advice, this is a protection we consider. We love adding water backup coverage to policies because it protects our clients from financial disaster. After all, water backup is not included in a standard homeowners insurance policy.
What is Water Backup Coverage?
Water backup coverage is an optional home endorsement. It can be added to a renters, condo or homeowners policy, and adds protection from costly water damage resulting from backed up drains or failed sump pumps. You could be footing the bill for cleanup or resulting damages without this endorsement.
Who Needs Water Backup Coverage the Most?
If a client lives on a slab foundation, their main living space would be effected by a water backup claim. Can you imagine the cleanup and resulting damages from water backing up into a main living space? That’s why we choose water backup coverage for these clients – they need to be protected! We are also concerned with finished basements – we want to ensure a client’s drywall and flooring are protected, not just their personal property. Additionally, we want to know what is being stored where. You may want this coverage for an unfinished basement depending on what you’re storing there.
How Much Does Water Backup Coverage Cost?
Generally, the typical cost of water backup coverage is about $50-$250 per year. Discuss your needs with your Cincinnatus Insurance advisor to find the coverage that works best for your needs. Overall, different limits are available to match different needs. Tell your advisor what you’re storing and they can best advise.
The Bottom Line
Ask your Cincinnatus Insurance advisor anytime you have questions about your home insurance coverages. Furthermore, know your own home insurance policy and how you are covered. We are always here to make sure you’re protected, so don’t hesitate to call us!