Home Settling? Cracks in the Foundation? Will Home Insurance Help?

The foundation of a home is one of the most essential structures. All homes settle over time, especially if they are newer. When this happens, it can create cracks in the foundation. This can be costly to repair. The damage may have home insurance coverage, but various factors play a role in whether this is the case. What can you do to better ensure a degree of coverage? Homeowners Insurance

What Does Your Policy Cover?

Most home insurance policies list specific exclusions. These are types of events not covered by the policy. Most foundation damage falls into this area.

You can learn more about these types of exclusions. Look through your policy. There will be a section called exclusions. This is where you will likely notice any specific foundation damage notes. This will supersede any other information available. In other words, if your policy excludes foundation damage, the rest of the policy voids.

Most home insurance policies cover some types of foundation damage. Covered items may include events related to explosions, fires, storms, or collapse due to the weight of snow. When the event is accidental and unavoidable, the policy will list it as covered, in most cases.

Normal home settling tends to be an exclusion on most home insurance policies. This includes settling from any natural occurrence. Some examples include the expansion of the foundation and the bulging from it. It may also exclude damage from a shrinking or cracking of the foundation. Foundation damage brought on by root pressure, faulty construction, or flooding are also generally exclusions. Most policies also exclude earthquake related foundation damage.

Making Repairs Is Essential

If you find damage to your foundation, repairing it is essential. If you do not, you could create other areas of structural concerns. This may include areas where your home’s windows, doors, and roof no longer remain secure. Over time, this can make your home unsafe. It may become susceptible to moisture damage. If you suffer other concerns related to the foundation damage, such as damage to plumbing, your policy may not cover those losses either. This is why making repairs is so important. The better you take care of the foundation, the better your chances might be to file a full claim later.

Contact your home insurance agent. Find out if you have home insurance for your foundation. Learn about the risks present. Then, discuss options for making repairs if necessary. Some policies may provide protection for you. If so, you may get some help for making these repairs. Discuss the concerns with your agent to learn about your next steps. Protecting your home is always important.

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