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According to the Insurance Information Institute (Triple-I), the cost of water damage to homeowners between 2017 and 2021 averaged $12,514. What’s worse, this type of damage is common. What’s ...
Water backup coverage: This is an optional coverage that can be added to your primary homeowners policy. It is designed to cover you for water damage caused by a drain or sump pump backup.
Standard homeowners insurance will often cover burst pipes and the resulting damage, but be aware of coverage limits on your policy. You might benefit from speaking with your home insurance agent ...
Hurricanes: Most homeowners insurance policies do not cover all aspects of hurricane damage. To be covered for flood and sewer backup-related damage, you may need to purchase additional coverage.
In the U.S., the average cost for homeowners insurance is $1,687 per year for a home insurance policy with $250,000 in dwelling coverage. Depending on your location, average premiums can range ...
If and when a peril occurs and causes damage to your property, you may file a claim with your home insurance provider to help cover the repairs. A standard homeowners insurance policy lists the ...
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