The brutal winter of 2014-2015 resulted in billions of dollars of blizzard-related damages. Unfortunately, many homeowners were inadequately covered and suffered financial losses as a result. Most home policies cover damage to the structure of your house when an ice dam damages it. But not all policies will cover the property inside your house when it’s damaged by water that backs up from the dam and runs down inside walls. You may be shocked to find that the damage to your attic contents, furniture, area rugs, or other property in your home is not covered.
Interior furnishings, floor coverings, electronics, clothing, etc., are generally not covered for damage caused by water from ice dams unless you have an “Open Perils” policy. This is one of the many reasons to get this coverage – so make sure you’re educated about your risks.
Ask for an “HO5” policy that provides “Open Perils” coverage. This type of coverage applies to everything except certain causes of loss that are specifically listed:
A standard HO3 policy covers damage caused by only 16 very specific things – and loss to your personal property caused by water from an ice dam isn’t one of them. Coverage is extended to loss caused by:
Neither policy provides coverage for damage caused by flooding due to tidal water, rain, etc. Always remember to discuss a Flood insurance policy with your advisor.
Our Risk Coaches are licensed advisors who are trained to look at coverage from your perspective. They’re glad to help you navigate the often-perplexing world of insurance coverage. Contact your local risk coach, or call us at 855.227.8211, Monday through Friday, from 7:30 a.m. to 9:00 p.m. ET.
Electric Insurance Company Risk Coaches help you assess your current coverages and exposure to risk based on the information you provide during your discussion with them. The services provided are for informational purposes only and do not create a professional or fiduciary relationship. Incomplete information or a change in your circumstances after your meeting may affect coverage requirements or recommendations.
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