Many insurance companies are now requiring home and business owners to install a water or flood alarm.
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Water damage is one of the most common insurance claims on home and small business insurance. Burst pipes, leaking appliances, growing mold and flooded basements are just a few of the ways you could discover exactly what is and is not covered by your home insurance policy.
Water and mold damage and homeowners' policies can be a volatile issue in many ways.
Damage caused by water will usually be covered, but whatever causes the damage may not be. This could be a leaking dishwasher, washing machine or failed hot water heater. Your insurer might pay to replace flooring ruined by your hot water tank leak, but you must pay to replace or repair the tank. Purchasing a water or flood alarm can prevent a very expensive home repair.