What's water backup insurance and do I need it?
Recently we had a new personal insurance client come to us from another insurance agency after she experienced a major loss at her home. "If her previous agent had carefully gone over all of her options when she purchased her homeowners' policy, she could've avoided thousands of dollars out-of-pocket costs when her sump pump backed up and flooded her finished basement," says CH President Joe Convertino, Jr.
Water backup coverage is an optional add-on to your homeowner's insurance policy. This coverage may help pay for water damage resulting from a backed up drain or sump pump. For instance, it may help cover the cost of replacing furniture or removing water after an unexpected backup.
If her agent with her previous insurance company had carefully gone over all of her options when she purchased her homeowners' policy, she could've avoided thousands of dollars out-of-pocket costs when her sump pump backed up and flooded her finished basement.
Typically, most homeowners' policies offer an option for water backup coverage, including sump pumps. For an additional, nominal annual fee, it can be added to your policy. Particularly if you have a finished basement, you want this coverage in place for certain. If you have a sump pump, run it every once in awhile to be sure it's functioning properly. An ounce of prevention is always worth a pound of cure. Water cleanup can be a damaging, messy proposition. It can also be quite costly - and compared to the small annual fee to add this kind of coverage to your policy, it's more than worth it.
Be certain to ask your agent whether water backup is included in your homeowners' policy, and what the coverages are. Spring is just around the corner and there's bound to be lots of spring runoff. Homeowners always seem to learn about water backup when they most need all the mechanicals working properly. Check now! CH Insurance is an independent insurance agency based in Upstate New York. They're in your corner 24/7.