If your home needs foundation repair, that can be a big task to tackle. It can also be a sizable investment because it is so crucial in protecting your greatest asset. Depending on the circumstances, your home insurance might be able to chip in on the costs, reducing the burden of that home repair can place on your wallet. Of course, these situations aren’t always black and white, but we can help you know whether your specific situation is covered or not. Let’s investigate how this works.
What does home insurance cover?
So, you notice the symptoms of foundation failure occurring at your home, and you want to know: Does my insurance cover this? It depends on what your coverage looks like. Some examples of events that would be covered include fire damage, explosions, or vehicle damage to your home. If an event like this is what caused the damage to your foundation, it is likely that your insurance company will cover the cost of repair.
However, there are a slew of events that are NOT generally covered by insurance companies. While there is a wide range of what can cause foundation issues, these are some of the causes that are not covered by insurance: natural wear and tear, mismanaged construction of the home, earthquakes, and floods. There are additional causes that are typically not covered by home insurance, but these are the most common occurrences to be mindful of.
It is important to make the distinction between natural disasters. Typically, things like fires, lightning strikes, and tornadoes WILL be covered by your home insurance policy. As long as concrete proof can be found to link the damages to those events, they will be covered. If your home is damaged from a flood or earthquake, though, your chances of being covered by a general home insurance policy are very low. If you live in an area that is at high risk for earthquakes or floods, it is suggested that you get a separate policies for those incidents. If you have earthquake or flood insurance, you are likely to see your foundation repair costs get covered by an insurance policy.
Being in the Middle Tennessee, Kentuckiana, and North Alabama area, it would not hurt to look into a flood policy to protect your most valuable asset. In 2021, a severe storm ravished through Tennessee and led to the destruction of 270 homes. About a decade ago, back-to-back years saw hundreds of millions of dollars in flood damage within the state. Instead of waiting for the flood to damage your home and then hoping your home insurance policy covers the damages, the wise thing to do would be to look into flood insurance.
How do I prove what caused the damage to my home?
To get your insurance company to cover your damages, you must prove what caused the damage to your foundation. Insurance agencies are very picky about what they do and don’t cover, so it is imperative that you prove what caused the damage to your home if you hope to get coverage.
While it won’t be difficult to see the signs of foundation damage, it can be a harder task to appropriately attribute cause. You could go back and forth with your insurance company in a guessing game, but your best bet is to bring in a foundation specialist to find the cause. We offer free inspections, so bringing someone like us in would be a zero-risk safety decision on your end.
How do I complete the process of obtaining coverage from my insurance company?
Now that you know what must be done, it is time to discuss how you get the coverage. The most important thing to keep in mind is that filing your claims to insurance is time-sensitive. As soon as you notice the signs of foundation damage, you must contact your insurance company and start the process. Even if you aren’t sure what caused the damage, you still need to contact your agency and get the ball rolling. During this time, you can bring in a third-party foundation specialist to assess the situation and use their findings in the discussion with your insurance company.
Steps to ensure the well-being of your foundation
Now, you might follow all the correct steps, dot your cross your T’s and dot your I’s; and insurance still may not cover your home. We’ve found that the best way to protect your home is to take action now to prevent any future damages from taking place.
One of the best ways to stay ahead of the curve is to recognize warning signs that your foundation needs repair. You might be tempted to kick the can down the road, but these problems don’t get better over time — they actually get worse. The signs of foundation issues come in a wide variety, some of the most common ones are sagging floors, cracks in the walls or brick of your house, and a horizonal or vertical shift in the foundation.
If you notice any of these signs in your home, the best thing you can do is contact a foundation specialist immediately and have them inspect your property. The sooner you can find and fix foundation issues, the safer your home will be. At the end of the day your home is meant to be enjoyed; not cause you stress. We exist to improve people’s lives, and we do this by improving the place you call home.
There is a plethora of options that you can use to repair your foundation and provide stabilization. SmartJacks, Push Piers, and Helical Piers are all solutions to your foundation concerns. While they aren’t the only options, they are the most common answers to the most common questions.
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