Water backup insurance is an optional policy you can add to your homeowner’s insurance. This policy covers subsurface water damage resulting from a broken sump pump or backed-up drain. Here are some reasons why you should consider adding this policy:

Water damage can be expensive. Along with having to pay for someone to come out to remove the water and restore the flooring, you might have to replace furniture and other valuables. And if a sewer backs up, this requires more extensive services that could cost you thousands of dollars in repair expenses.

The policy for water backup insurance doesn’t cost much. According to Grange Insurance, your policy could run you from $50 to $250 annually, depending on the level of coverage you add. Meanwhile, policy coverages can range from to $25,000 depending on your state’s requirements and how much protection you want.

You might qualify for loss of use coverage. How this works is say your residence incurs enough damage from a sump pump failure that it renders your home’s heating or cooling systems inoperable. And if it’s among the more extreme climate times of the year such as winter when you need heating, this coverage provides expenses that exceed normal living costs such a hotel room while the repairs are ongoing.

Your standard homeowner’s policy doesn’t cover it or if it does, it provides minimal coverage. As noted above, water and sewer damage could easily run you thousands of dollars in repair costs so it’s imperative to have the financial protection in place when you need it the most.

Therefore, it’s important to review your homeowner’s policy with an independent Cole Harrison agent, who can ensure you have enough protection in place should water backup damage happen. Contact us today to learn more.

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