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Foundation Repair Insurance Explained

The Basics of Homeowners insurance

When it comes to homeowners insurance policy types vary, and some have various clauses than the other. Finding out if you have foundation repair insurance can be tricky but through some questions and research finding out if you are covered can be a little easier.

Do I have foundation repair insurance?

To get a better understanding of foundation repair insurance lets take a look at the main two categories in traditional policies:

   1. Physical Damage 

 This coverage handles the more common types of damage to a home. Often referred to as dwelling coverage, accidents such as hail, theft, vandalism, wind, lightning, fire and smoke accidents fall under this category. Dwelling coverage also protects attached structures such as garages, sheds, etc. For more information, check your homeowners’ policy to see precisely your plan and determine what you may is covered under a dwelling coverage claim. 

   2. Personal Property Coverage

 Personal Property Coverage can cover any item in your house that you have purchased. Companies typically use two methods used to pay back a loss under this claim actual cash value or replacement cost coverage. Actual cash refers to the cost to repair, amongst other factors. Replacement cost gives money for the current market price of the item. 

What should I ask my agent regarding foundation repair?

 Based on these two broad categories listed by insurance companies, smaller issues and problems are hard to define. From topics such as foundation repair to even floods finding out if insurance can help is confusing but necessary when it comes to fixing your home.  

Do not fear, even knowing what questions to ask and knowing what issues to look for when it comes to foundation repair can expedite the process entirely. If you are located in Central Texas like we are, or wherever your foundation repair is needed, your insurance agent will be more than familiar with the question. 

Be Proactive, Not reactive.

As a general rule, assume your policy does not cover foundation repair and take the proper steps needed to ensure longevity in your foundation. For starters, check around the house for cracks or doors that are hard to open and close suddenly. Doing this may help determine a smaller issue with the foundation that needs to be fixed and enables repairs to happen on a much lower budget.

Here are some other common tips to help your foundation for years to come: 

  1. Proper Foundation Moisture
    1. If you start to notice a gap between the foundation and the surrounding soil, water the surrounding areas to help the soil adjust. 
  2. Check your drainage
    1. Make sure that the runoff from gutters is far enough away from the foundation. 5 to 10 feet away is typically a reasonable distance for the water to be. 
  3. Watch those trees
    1. Check for tree roots running close to or possibly into the foundation. If there are roots, look into getting a root protector for your home. For those planning to plant trees, make sure that they are far away from the foundation of the house. 
  4. Take a look at the plumbing
    1. A good practice is to make sure that the piping is in good shape. Any known repairs that need to happen or possibly issues consult a plumber to learn more. One of the most common types of foundation repairs stimulates due to a plumbing issue that oversaturated the ground. 

Bottom Line

Insurance, in most cases, unfortunately, will not cover foundation repair, excluding specific situations such as earthquakes, which are typically covered. However, by being proactive and knowing what to look for foundation repair can be budget-friendly. Above all else, if you have foundation issues, consult a local professional for a quote and see about possible options. 

Try out our free checklist for foundation maintenance around the house.

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