Homeowners insurance covers your home and protects you from financial loss for damage to the home’s structure and your belongings. Damage to your home’s foundation may also be included in your homeowners insurance coverage, but it depends on the cause of the damage.
This blog discusses all you need to know about homeowners insurance coverage for foundation damage, including when the damage is covered, the compensation you may receive, how to file a claim, the reasons behind the foundation issues among older homes, and ways to prevent damage.
Does Homeowners Insurance Cover Foundation Repair?
The dwelling coverage or coverage A in your homeowners insurance covers damages to the home’s structure and includes the walls, roof, windows, and foundation if a covered peril causes it.
You may hire a foundation expert to know the reason for its damage. If the cause for damage is a peril included in your homeowners insurance coverage, your insurance provider may bear the repair costs.
When Does Your Homeowners Insurance Cover Foundation Repair Costs?
Like all other structures, the foundation repair will be recompensed by your insurance provider if the damage is caused by covered perils such as:
- Fire or lightning
- Strong winds
- Weight of ice, snow, sleet or a fallen tree
- Certain water damages
- Damage caused by vehicles and aircraft
However, your homeowners insurance coverage has several exclusions for foundation damage. They include:
- Natural settling or movement of the foundation
- Wear and tear
- Faulty design or construction
- Sinkholes or pressure from surrounding trees
How Much is the Expected Compensation for Foundation Repairs?
The amount you receive from your insurance provider for foundation repairs depends on:
- Dwelling coverage limit of your homeowners insurance
- Replacement costs
Steps to File a Home Insurance Claim for Foundation Damage
If the damage to the foundation is due to a covered peril, you may file a claim by following the steps mentioned below:
- Inform your insurance provider at the earliest
- Take photographs and videos to document proof of damage
- Wait for the claims adjustor’s visit to verify your claim
- Once confirmed, you need an estimate of repair costs from a licensed contractor
Why Do Older Homes Face Foundation Issues?
There are 2 reasons why foundation issues are more commonly seen in older homes:
- Soil erosion and natural wear and tear
- Absence of concrete slab foundations
Ways to Prevent Foundation Damage
To prevent foundation damage, you may:
- Get regular inspections done by a foundation contractor
- Keep the gutters clean
- Ensure the soil is adequately moist
- Build drains to prevent flooding
- Avoid planting trees too near to the house
Protect Your Home with Pierce Insurance
If you’re seeking comprehensive information on available homeowners insurance coverages, don’t hesitate to reach out to our dedicated team at Pierce Insurance Group. We’re here to assist you in securing the optimal coverage that perfectly matches your specific needs. With our expertise and personalized approach, we’ll work closely with you to ensure that your home and belongings are safeguarded with the best-suited insurance solutions, providing you with the right assistance and financial protection. Contact us today to begin the journey toward a more secure future.