Talked to my neighbor about his basement flood last week and it changed how I look at insurance

We were both out shoveling our walks after that last snowfall and he mentioned his sump pump failed back in March. Cost him nearly $8,000 in water damage because his policy didn't cover sewer backup. I always figured my basic home insurance was good enough for anything that could happen. He showed me his claim paperwork and I saw line after line of stuff his adjuster denied. I went home and read my own policy that night for the first time in 5 years. Turns out I have almost no coverage for groundwater or sewer issues either. Has anyone actually had luck getting their insurer to add this kind of protection without jacking the premium through the roof?

2 comments

2 Comments

kim_hart718d ago

That part about how his adjuster denied "line after line" of stuff really got me thinking. I went through something similar with my own claim a couple years ago for hail damage to my roof. My adjuster tried to say the shingles were already worn down so they'd only pay for half. I had to fight for months and get my own roofer to write a letter. But to answer your question about sewer backup coverage, I actually called my agent after reading a story like yours. She said it usually costs like 30 to 60 bucks a year to add on. I was shocked it was that cheap. Did you ever call and ask your insurance company directly about adding sewer backup coverage?

thea70418d ago

Hearing how cheap sewer backup coverage is makes me wonder why more people don't just add it automatically when they buy a policy. It's one of those things you don't think about until your basement floods and then it's way too late. Have you ever had a claim that ended up costing way more than you expected because of something small you overlooked?