The clock goes off and you climb out of bed, another routine day. Throw on a pot of java and head for the shower. For some reason the hot water just keeps getting colder.
After further investigations you discover that your hot water tank burst in the night and now your basement is filled with about four inches of water. While, this is awful it may well have been a disaster without homeowner's insurance. Observing your belongings just floating in the water, the school text books, your new collection of DVD's, your son's DS, the laptop, and the new carpet are only some of what you can see this second.
On your drive to work you offer yourself a congratulations for forgetting to raise your deductible which your husband had suggested. You have decided to phone your insurance company and break the news of your flood to them. The next words to leave your mouth are not to be repeated here as you just discovered that your homeowner's insurance doesn't cover flooding.
You simply presumed that you had coverage, you never asked, and you never studied your contract. In reality, any category of private residence insurance such as homeowners, renters, condo, etc will simply decline any flood claims.
There is some stuff that you ought to be familiar with if you would like flood insurance. First, you will require a totally separate plan for that.
Next, flooding doesn't only happen to those who live by water. Drains can back up, hoses on washing machines can split and there's always that pitiful hot water tank break.
Where you live will play a big role in the amount that you pay for flood insurance. Low lying areas will have higher rates. The thing is, that you have to make sure that you have enough coverage. This is called preparing for the unexpected and sometimes it is well worth it, especially on days like this one!
After further investigations you discover that your hot water tank burst in the night and now your basement is filled with about four inches of water. While, this is awful it may well have been a disaster without homeowner's insurance. Observing your belongings just floating in the water, the school text books, your new collection of DVD's, your son's DS, the laptop, and the new carpet are only some of what you can see this second.
On your drive to work you offer yourself a congratulations for forgetting to raise your deductible which your husband had suggested. You have decided to phone your insurance company and break the news of your flood to them. The next words to leave your mouth are not to be repeated here as you just discovered that your homeowner's insurance doesn't cover flooding.
You simply presumed that you had coverage, you never asked, and you never studied your contract. In reality, any category of private residence insurance such as homeowners, renters, condo, etc will simply decline any flood claims.
There is some stuff that you ought to be familiar with if you would like flood insurance. First, you will require a totally separate plan for that.
Next, flooding doesn't only happen to those who live by water. Drains can back up, hoses on washing machines can split and there's always that pitiful hot water tank break.
Where you live will play a big role in the amount that you pay for flood insurance. Low lying areas will have higher rates. The thing is, that you have to make sure that you have enough coverage. This is called preparing for the unexpected and sometimes it is well worth it, especially on days like this one!
About the Author:
Get more tips here: Arizona home owner insurance and Louisiana home owner insurance. Chimezirim Odimba writes on financial matters.
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