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Water damage comes in many forms, including: a pipe bursts, filling your basement with water; a bathtub overflows, damaging the ceiling below; or, a dishwasher leaks, ruining your hardwood floors. Whatever form it takes, the resulting damage can be devastating. Today, water damage is one of the most common types of home insurance claims in North America. Water damage claims amount to double that of fire and theft claims combined.
There are many steps you can take to prevent water damage. That said, the only way to financially protect your family and home against water damage is to buy water damage insurance. In North America, most home insurance providers give you the option of adding water damage insurance to your policy. At Square One Insurance Services, our policies automatically include protection against most types of water damage. No paying extra. To learn more about water damage insurance, review the information provided below.
Does home insurance cover water damage? |
Most home insurance policies do provide some coverage for damage caused by water. However, it’s probably one of the most confusing coverages in any policy. And, the type and amount of coverage provided varies widely by provider. If you have a comprehensive policy, which protects against all loss types except those specifically excluded, you might think you’re covered. That’s likely not the case. Most providers specifically exclude damage resulting from water. Some providers add limited water damage protection back in to the base policy. Other providers make you specifically add and pay for water damage protection. Please note that insurance for damage caused by coastal flood, ground water, rising water tables, waves, tidal waves, or tsunamis is not widely available in North America. As a result, the government has financial assistance programs in place. It’s also worth noting that some providers do not cover damage caused by inland flood. At Square One, our comprehensive home insurance policy automatically includes protection against most types of water damage with very few exclusions. These exclusions are clearly listed under our water damage exclusions section. If you’d like, please use the button below to download sample policy wordings and review the water damage exclusions. Download sample policy wordings |
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What does water damage insurance cover? |
In a traditional policy, coverage is provided for damage caused by:
Often water backup is included, but with many providers you must specifically add and pay for this coverage. Even if water backup is covered, it may only cover the backing up of a sewer drain located inside your home. For example, there may be no coverage for damage resulting from an external drain that clogs and backs up, causing water to enter under your door. As mentioned earlier, home insurance policies in North America generally do not cover damage resulting from coastal floods, rising waters, tidal waves or tsunamis. Among other things, most policies also exclude damage caused by gradual, continuous or repeated seepage or leakage of water over a period of time. And, most policies will also exclude damage resulting from freezing and bursting pipes if you are away from your home during the usual heating season for more than 4 days (7 days at Square One) unless you:
Water damage may not be covered at all if you have a rental, vacant or vacation property. Many providers have also introduced sub-limits for damage resulting from water backups. This makes it even more important to read your policy carefully, or speak to your insurance provider, to make sure you have the broadest protection available. Square One automatically includes protection against most types of water damage, including water backup, up to the limits selected, in virtually all of its home insurance policies. |
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How much does water damage insurance cost? |
Depending on your home insurance provider, water damage insurance may be included in the base policy. Or you may need to specifically add and pay for water and water backup damage protection. If your provider requires you to add this protection, it may cost anywhere from $10 to $250 (or more) a year to get the broadest protection available. Virtually all home insurance policies offered by Square One automatically include protection against most types of water damage, including water backup. No paying extra. |
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What is the deductible for water damage? |
The deductible for water damage will most likely be the same as your standard policy deductible, which typically ranges from $500 to $5,000. |
Getting the best protection doesn't have to break the bank. See how affordable personalized home insurance can be. Get an online quote in 5 minutes.
Don't just take our word for it. Here are some of the reviews that contribute to our average rating of 4.7 stars out of 5. Want to read more? Visit our reviews page.
I would like to thank our Claims Adjuster, Brad Rotto, for all the hard work he has done while working on our claim. Our unit flooded, and there was a lot of damage done by the flood. However, Brad was very helpful, replying immediately to any question we had (and we had many!), arranging for reimbursements right away and making the entire process uncomplicated and easy to understand. It has been a real pleasure working with Brad. This was one of the rare instances when the reality exceeded the expectations. Thank you, Brad, for the impeccable service and the support received throughout!
I have bought several home insurance policies over the years. Square One was the last and has been the best. I got my house insurance with them for a few years, and now for an apartment that I am buying. You do not need to do any shopping around, and you do not go wrong if you come here directly for a great customer service experience, great coverages, at low price.
Square One insurance is so easy! You can go back and change whatever you like, whenever you like. Very easy to read, no mumbo jumbo that you can’t understand, it’s great, I love it! Thank you Square One, it’s good to know you have my back.
I decided to switch to Square One for our home insurance needs. I love how I can modify my coverage online to see the effect it will have on my premium prior to making the changes. Everything seems so out in the open and the website and quote pages are very user-friendly. Joyce F. was excellent in helping me set up our new policy! She was friendly, knowledgeable, helpful and patient in dealing with all my questions. She got back to me every time she said she would.
Needed to find a new insurance provider as the one I'd been using for years raised premiums by a huge amount for absolutely no reason and with no explanation. So I jumped online and found Square One. The quote process was quick, easy and clear. When I had a question I asked for an agent to call me and they were very prompt in meeting the determined callback time. The chatbot is helpful as well. My quote was significantly less expensive and I have better coverage. I'm already telling all my friends about Square One.
I know only what I've had to learn about home insurance and it is always a daunting process. I felt motivated at 12:55 am to finally go to Google and fight through a quote, and at 1:08 am I got the confirmation email of my new policy. I feel more confident in than any time I've tried to keep up with someone on the phone. The expert opinion line was so appreciated, and it was remarkably easy to customize a policy that will let me sleep easier, starting tonight!
After obtaining quotes from 5+ insurance providers I decided to go with Square One for a simple reason: they offered the coverage I wanted (and then some) for the best price out there. I needed to set up a call to finalize my policy and Carla Campbell was prompt, knowledgeable and courteous. Nobody should ever be excited about insurance, but right now I am.
Square One Insurance: Where service, pricing and trust meet. Excellent customer support every time, no waiting. The best price I have ever gotten for home insurance. Hunter, who helped me today, was terrific. It is nice to get off the phone and it has all gone perfectly. I'm so glad I made the switch to a company that knows what it is doing! Square One is that company. Ten stars!
I was very satisfied with the outcome of my claim and the support received throughout. My apartment flooded when a radiator cracked. We had to leave for 9 days and many personal belongings were destroyed. This was the first time I'd ever needed to make any type of insurance claim, and I expected the worst. However, Lisa was very helpful, arranging for reimbursement for accommodations right away and helped me to recoup on the content losses from the flood. I would recommend using Square One for renters insurance.
I had to update my home insurance as we added a garage and an all-season gazebo to our house. Instead of being on the phone with an agent I could do the whole process through my online account. It took me not even 10 minutes and was so easy! I have referred Square One already several times because of their fair pricing and great online presence. I am just glad I have found them.
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