Does Condo Insurance Cover Water Damage?

You may have bought your Fords, NJ condo because the idea of low-maintenance living appealed you. It‘s not likely having to take care of water damage caused by your water heater played into that fantasy. But, it can and does happen often, and if it happens in your condo it can turn into a big, expensive headache if you’re not prepared. Condo insurance will keep you protected against most water perils. 

Water Damage That’s Typically Covered 

If you have a condo insurance policy in place for your Fords, NJ home, you’re generally protected against water damage that your appliances, water heater, heating or air conditioning system, or plumbing cause. The water damage must be from accidental causes rather than wear and tear. For example, if your older water heater cracks and spills water all over your flooring, while your insurance will generally cover the damage to your floors, your condo insurance isn’t likely to cover the cost of buying a new water heater. Check with your Five Star Insurance Agency representative to find out about any specific limits or exclusions in your policy. 

Water Damage That’s Not Typically Covered 

Some types of water damage aren’t normally covered by a standard condo insurance policy, such as sewer or drainage back-ups. To safeguard yourself from those risks to your condo you may need to purchase additional “water back-up" coverage. Flooding is another water event that is typically not included in a basic condo insurance policy. If flooding is a concern you will need a separate flood insurance policy for protection against flood waters. 

For more information about how condo insurance can help protect your investment from water damage loss, or for answers to any questions about condo coverage limitations or exclusions, give the insurance experts at Five Star Insurance Agency a call today.