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Although condo insurance can cover water damage in Green, OH, the circumstances under which it does are strict. Water damage from sump pump failures is generally not covered, so you need to find additional protection. Ken Boldt Insurance Agency II Inc. can help you determine what you need.
Riders for Sump Pump and Sewer Backups
This option is handy if you live in a city or are not in a recognized flood zone. Heavy rains can raise the water table, often causing water to bubble up through floor drains. Owners of multi-level condos often store valuable electronics and other items on the lowest floor. A standard condo policy won’t cover damage from drain and sewer backups. To get protection, you should buy a Water Backup and Sump Pump Overflow endorsement. These policies are usually quite inexpensive, yet they provide coverage for expensive items, such as replacing ruined drywall and flooring, as well as for typical drywall repairs. If you live on the ground floor of a complex.
Standard Coverage for Water Damage
Condo policies will cover damage from sudden and accidental leaks. Examples include a pipe bursting inside your unit, water leaking, or the washing machine supply line cracking. Your policy should cover damage to any personal property and areas of the unit for which you are responsible. Note that insurance carriers will scrutinize whether the incident is sudden or results from a lack of maintenance. When the latter occurs, they won’t pay for damages.
Your HOA master policy may pay for water damage, depending on where the incident occurs. For example, if a pipe bursts in the building’s main line, the condo association will pay for damages.
Keep yourself fully protected from water damage by getting the right type of condo insurance from Ken Boldt Insurance Agency II Inc. Contact our Green, OH, office to get started.
