Water Damage - Insurance Community

Coverage for water damage is the guarantee by which the insurer is responsible for the damage caused by common elements, due to breakage sustained in community pipes.

Thus, the damage caused to private property (residential or commercial property), will also be covered.

It is one of the insurance coverage of community more used, especially in buildings and ancient communities, since in these accidents occur more frequently. One solution often used to lower the price of insurance is to include a franchise in this warranty for the insured to bear part of the cost of the claim.

Often one of the coverages that best analyzes which contracts are safe to the community that matter most.

What aspects should be taken into account in the water damage coverage?

Most insurance companies in this coverage, take care of the cost of troubleshooting and repair of the pipeline community , in addition to repairing the damage , as explained above.

In these guarantees, there are companies that include limits (or first loss ) and others that cover 100% of what could happen. Of course it is important to check whether there are franchises, which can be established on a defined percentage or a fixed amount.

In many cases, it should, read the general condition of the policy, check what they understand (the insurers) for " community lines, "to know how far it extends the coverage of the policy community, as some companies do not include nothing more than to the junction of the pipe with the particular community, while other insurers, spreading to the tap even when inside the house.

There are many other possible causes of damage produced, for example, damage by frost, by clogging, leaks or damage from leaks , ... For each of these causes, we can see that some insurers include it within the coverage of water damage and others do not. In addition, in cases that include limits and conditions of coverage are different.

Also unlike a lot of coverage given the different companies when driving that is "broken" is located on the exterior of the building. There are insurers that provide coverage if they have not caused damage to the building. In other companies exclude it if they are underground pipes that are outside of the vertical roof of the building. Is there any other insurance that provides coverage for these claims, setting a limit per claim and including a small franchise.