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Insurance rider can help cover flooding –

Posted on 8:11 pm by indiana_restoration

Updated: Jun 24, 2010 5:26 PM

Jeremy Brilliant/Eyewitness News

The recent storms have caused a lot of headaches for homeowners. Basements have flooded, causing thousands of dollars in damage. While it may be too late now, you can prepare for the next storm.

The powerful fans and industrial dehumidifiers are working non-stop at Dan Skaggs’ Noblesville home after what he found in his basement Tuesday.

“I went downstairs to check on some things before work. I saw two inches of water so I knew that I had a sump pump fail,” said Skaggs.

The time-consuming and costly drying out process is necessary to avoid mold or more serious structural damage caused by standing water.

“If you just come in, extract the water, set up the drying equipment, clean the carpet when you’re done, typically $1,500 to $3,000 for your average size basement,” said Dan Hanlin, Indiana Restoration & Cleaning Services.

Skaggs’ home actually has two sump pumps and a battery backup. Still, all of this failed and the basement flooded. But even in situations like this the homeowner can still be covered.

“The insurance will cover if something causes the sump pump to fail,” said Steve Williams, Insurance Institute of Indiana. Williams says homeowners can also supplement standard insurance with back-up sewer and drain coverage.

“It doesn’t come with your basic policy, it’s a rider on top of it and usually for, say, $5,000 of additional coverage, it’s about $100,” said Williams.

Lucky for Dan Skaggs, who just happens to be an insurance agent himself, he has the additional coverage.

“It’s still stressful ’cause you got three or four days of fans and cords running through your house,” he said. But he admitted that at least he’s covered.

If you believe you live in a flood prone area, you should speak with your insurance agent about flood insurance, since the back-up and drain rider will not cover homeowners in the case of a traditional flood

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