Does California Home Insurance Cover Plumbing?
Investing in a good Homeowners Insurance policy can provide you peace of mind knowing your home is safe. Fires, windstorms, and burglary are all covered, but do you know what your insurance limits are? For example, what about water leaks? Is home insurance going to cover a plumbing leak? How about a brand-new pipe?
Water damage is one of the most common and costly disasters that may strike your home. This is why it’s critical to grasp the nuances of various plumbing issues and whether they’re covered by your homeowner’s insurance policy.
According to data from iProperty Management, even a small leak can increase an average residential water bill by 10%.
- The average water damage claim on a homeowners insurance policy is $11,098.
- Water damage is seen in 98 percent of basements.
- Flooding threatens 14.6 million houses in the United States.
- On just about any given day, 14,000 people are affected by house water damage crises.
- Residential water damage charges up to $20 billion a year in the United States.
Costs of Common Household Water Damage
|Type of Damage||Total Cost|
|Minor plumbing or fixture leak||$100|
|Single floor, 1 inch of water in a small home||$11,000|
|Single floor, 1 foot of water in a single-family home||$29,000|
|Heavy storm damage||$38,000|
|Unfinished basement flooded with contaminated water||$60,000|
|2nd floor contaminated water damage||$100,000|