IS MY FOUNDATION COVERED BY MY HOME INSURANCE POLICY?

Your home's foundation is its structural backbone, providing stability and support. However, foundation damage can occur due to various factors, leading to potential issues and costly repairs. In this blog, we'll delve into how a basic insurance policy responds to foundation damage. Additionally, we'll explore optional coverages that can provide the necessary protection to safeguard your home's foundation.

FOUNDATION DAMAGE AND BASIC INSURANCE COVERAGE

A basic homeowner's insurance policy typically covers specific perils such as fire, windstorms, and certain water damage. However, it's essential to note that most standard policies do not provide coverage for foundation damage caused by factors like settling, cracking, or soil-related issues.

For example, suppose your home's foundation experiences cracks and shifting due to prolonged soil erosion. Unfortunately, a basic insurance policy may not cover these damages, leaving you responsible for the repairs and associated costs.

FACTORS CONTRIBUTING TO FOUNDATION PROBLEMS

Understanding the factors that contribute to foundation problems can help you take preventive measures. Common causes include:

1) Soil Conditions: Expansive soils, such as clay or silt, can shrink or swell depending on moisture content, exerting pressure on the foundation.

2) Poor Drainage: Improper drainage can lead to excessive water accumulation around the foundation, causing soil erosion and compromising its stability.

3) Tree Root Intrusion: Tree roots seeking moisture can grow towards and under the foundation, causing shifting and damage.

OPTIONAL COVERAGES FOR FOUNDATION PROTECTION

To ensure comprehensive coverage for your home's foundation, consider the following optional coverages:

1) Foundation Repair Coverage: This additional coverage specifically protects against foundation damage caused by covered perils or issues not covered by a basic policy. It can provide financial assistance for repairs, including leveling, stabilization, and other necessary measures to restore the integrity of your home's foundation.

2) Earthquake Coverage: Earthquakes can have severe consequences for a home's foundation. Adding earthquake coverage to your policy can help protect against foundation damage resulting from seismic activity.‍

3) Water Backup or  Foundation Water Damage Coverage: Excessive water accumulation, whether due to heavy rainfall or sewer backups, can weaken the foundation. Water backup or foundation water damage coverage is available with some home insurance carriers and helps cover the cost of repairs caused by water intrusion into the foundation.

SAFEGUARD YOUR HOME'S FOUNDATION

Protecting your home's foundation is vital for the overall structural integrity and value of your property. While a basic insurance policy may not cover foundation damage resulting from settling or soil-related issues, optional coverages can provide the necessary protection. By understanding the risks, exploring optional policies, and taking preventive measures, you can safeguard your home's foundation and enjoy peace of mind.