Are Crumbling Foundations Covered by Home Insurance?
he cost to repair a foundation can be significant. Most homeowners purchase a home expecting to never have to worry about this part of their home. However, many homes experience foundation complications at one time or another.
Cracks and settling of the home is not uncommon. This is truer in homes that are newer. However, it can happen to any house over time. The changes in surrounding land grading can be a key factor. For some homeowners, home insurance may be able to cover the cost of the foundation repairs.
When Home Insurance Does Not Help
There are many situations in which home insurance will not foot the bill for a crumbling foundation. Insurance covers accidental and unavoidable problems. This often does not include typical soil erosion. It often doesn’t cover contractions of the foundation due to poor construction either.
Your home insurance policy will typically exclude this type of coverage. Insurers view the conditions that cause this type of damage to be normal maintenance on the home. It is typical wear and tear.
- Were you able to prevent this from occurring?
- Could you have improved or minimized risks before the foundation damage occurred?
- Did it occur over time or suddenly?
Asking these questions can help identify whether home insurance covers foundation issues. However, you should contact your insurer to ask questions about your specific policy. You may or may not have coverage depending on the policy itself.
When Does Home Insurance Cover Foundation Repair?
Your insurer may cover you in situations where the foundation damage was unpreventable. This is usually only in situations where there is a specific and identifiable peril. Some examples include the following:
- An explosion occurs that was not preventable.
- A tornado damages your home and foundation.
- Another significant weather event creates damage – not necessarily just worsening an existing problem.
As a homeowner, it is very important for you to get up to date with your home insurance policy. If you feel there is risk to your property’s foundation, let your insurer know. They can help you prepare for risks. They may provide a specific rider or additional insurance coverage. This may help to provide more protection to the home in the event of a damaged foundation.
Before you overlook your insurer, give your agent a call. Ask whether your home insurance covers the damage to your foundation to get the help you need.