Nowadays every person is trying to protect his house with a homeowners insurance. Homeowners insurance basically covers almost all types of damages occurring to your house. But recently a debate started regarding the damages occurring to the foundation of a house. Most of the people were concerned that does a homeowners insurance provide coverage for the damages occurring to the house foundation or not? It turns out that the answer was no! House foundation insurance is the only type of insurance plan that covers the costs of any sort of damage occurring to the foundation of a house. So before going for any sort of homeowners insurance, you must make a detailed analysis of the risks that are covered in the plan and those that are not covered.
House foundation insurance: risks covered
If you are living in an area where the chances of natural disasters providing harm to your houses foundation are quite high then you must seriously think about getting house foundation insurance for your beloved house. You must keep in mind that your routine homeowners insurance is not going to cover the costs incurred due to the damages occurred to your houses foundation. So you need to get a separate house foundation insurance as soon as possible.
Risks covered in house foundation insurance include:
- Most of the people remain in doubt regarding the coverage of water damage occurring to their house because the issue is that although water damage is covered in the homeowners insurance but still it depends on the source of water damage. If the water damage has resulted due to busted water pipes, rain water entering the house through roof, water damage due to breakage of frozen pipe, then these damages will be covered in homeowners insurance. On the other hand if your house foundation has received damage due to flood, backing up of sewerage or the water has damaged your house by entering the base of your house then these type of damages would only be covered in house foundation insurance plans.
- Another greatest risk factor is the damage to your houses foundation due to earth quake, land sliding or high-frequency earth tremors. Due to increasing level of global warming, earth quakes are occurring in normal routine these days. If you are residing in an area where the earth quakes are a routine or happen during any specific season then you must instantly get the house foundation insurance plan for the protection of your house. Because the fact is that damage resulting due to earth quakes or any other sort of land movements are not covered in homeowners insurance.
- In the circumstances when your house has been constructed in an unsatisfactory manner, with a low-quality material, your homeowners insurance is not going to cover the damages occurring to the house foundation as a result of this third-class construction. In such case its best for you to get the house foundation insurance or check out for the warranty that your builder offered you at the time of construction.
Most of the people think that house foundation insurance is way more expensive than the normal homeowners insurance but the fact is that the coverage it provides, do protect us from the worries of protecting our house against natural disasters.