Home insurance makes all the difference when it comes to costly disasters such as floods, fires, and robberies. However, homeowners are often left wondering if home insurance extends to issues with their foundation. Correcting foundation damage is essential for preserving the structure of your home, but is it included in insurance coverage?
Today we will be answering the important questions, such as if home insurance covers foundation repair and what to do if it does not.
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Does home insurance cover foundation repair?
Foundation repair might not be as immediate a concern as flood damage, but it is certainly an essential one. So can you claim foundation repair on your home insurance? It depends. Rather than leave this question up to chance, examine your insurance plan, and speak directly with your agent about insurance coverage for foundation repair. Inquire if your insurance plan covers small crack repairs, as well as the method of foundation repair covered and the extent of coverage.
Be sure to ask what factors are needed for the insurance to kick in. It’s critical to ask these questions ahead of time since foundation damage is often something discovered over time and not when your home insurance is purchased.
The unfortunate reality is that in most cases, homeowner policies will not cover foundation repairs. Insurance for foundation repair is rarely included, as home insurance tends to cover damage caused suddenly and accidentally. In contrast, most cases of foundation damage occur gradually over time.
Many insurance policies will not offer financial assistance for foundation repair unless an event included in the insurance covered directly caused the foundation damage. Fortunately, there are alternative solutions you can explore, as well as ways to lessen foundation repair costs.
Related: Foundation Maintenance Guide
Can I customize my home insurance?
If you live in an area prone to earthquakes, such as the greater Los Angeles area, be sure to look into purchasing a home insurance policy that will cover your potential foundation needs. Some insurance policies contain clauses that are specific for cases such as flooding and earth movement.
If you know there is a high chance of seismic activity, it would be extremely wise to add such a clause to your policy even if it increases your premium. Though foundation damage might not be an immediate concern for new homeowners, having insurance for foundation repair can save a significant amount of money down the line.
Keep in mind that insurance coverage for foundation repair might be extremely dependent on the specifically worded clauses included in your policy. For example, foundation damage might be covered due to an earthquake but not do soil problems. Since soil issues often play a role in progressive foundation damage, it is important to be aware of the extent of your coverage. In some cases, supplemental insurance for foundation repair might be a smart investment, though you will have to again inquire about specific coverage details.
At Home Yard Inspections
If your driveway, patio, walkway, or other concrete fixture is beginning to show its age, then you are faced with two main options. You can demolish and remove the concrete installation and find a new way to occupy the area, or you can resurface the concrete to return it to its original appearance.
Concrete resurfacing provides new life for stained, cracked, discolored, and chipped concrete to create a cost-effective way to resolve aging concrete.
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What if I’m not covered?
It is always important to talk with your inspector when they assess your home damage, even if you know that foundation issues aren’t covered. In some cases, another factor covered by insurance can contribute to the foundation damage. In this case, the insurance company will likely contribute to the repair costs, making it the best solution homeowners have if their insurance does not cover foundation repair. The homeowner should hire a contractor to assess the damage and determine other factors that could have contributed to the foundation damage.
This way, there is a higher probability of the insurance claim being accepted.
Some insurance companies will provide policyholders with a network of contractors that they can work with to handle the insurance claim as quickly and efficiently as possible. Working with a contractor that is in direct communication with your insurance provider can speed up the reimbursement process and eliminate avoidable waiting time.
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How can I improve my foundation situation?
Whether or not you have insurance for foundation repair, it’s imperative to monitor your foundation regularly to prevent foundation problems from getting worse. Catching problems early on will minimize both the extent and cost of the repair.
Inspect your foundation regularly for cracks, signs of slanting, warped walls and floors, and indications of water intrusion. As soon as any signs of trouble are spotted, book a home inspection with a professional contractor. Since many contractors offer free initial consultations, you have nothing to lose by playing it safe and being cautious.
In addition to regularly inspecting your home, you can take steps to maintain a healthy foundation and minimize foundation damage. Ensure that soil in your yard is watered during dry periods to prevent a lack of moisture from causing it to contract and potentially destabilize the foundation.
Additionally, check that your yard is equipped with a proper drainage system to prevent over-saturation of the soil, which will cause it to expand. Gutter downspouts should always be pointed away from the home to prevent water from pooling close to the foundation. If you notice standing water in your yard, it’s important to book a drainage system inspection and consider updating your yard drainage.
Why Choose Us?
At California Foundation Works, it’s our mission to keep homes in the greater Los Angeles area safe one household at a time. Our custom solutions are structured to deliver maximum results while remaining within individual budgets.
We are proud to offer premium services at the most competitive prices on the market because we understand that there is no compromise for quality home repairs. Ready to fortify your home without breaking the bank?
Related: How To Inspect Your Home Foundation
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