Water damage is a common and costly problem for homeowners. The average cost of water damage repair is $2,500, but it can range from $1,000 to $10,000 or more, depending on the severity of the damage.
Why is Water Damage So Expensive?
- Water can cause extensive damage to your home’s structure, including the foundation, walls, and roof.
- Water damage can also lead to mold growth, which can be harmful to your health
- Water damage can also cause your belongings to be damaged or destroyed, including furniture, appliances, and clothing.
Is Water Damage Repair Covered by Foundation Insurance?
Most homeowners insurance policies will cover water damage, but there are some exceptions. For example, if the water damage is caused by a flood, it may not be covered by your policy. This is because floods are considered an “Act of God” and are not covered by most insurance policies.
If you are unsure whether or not your water damage is covered by your insurance policy, you should contact your insurance company to find out. It is important to note that even if your insurance policy does not cover water damage, you may still be able to get financial assistance from the government.