Check the video below for the truth about water damage. What can be saved? What should you do first? What is the minimum amount of coverage one should include? What does it cost?

According to the Insurance Information Institute most homeowner and business insurance policies do not cover sewer backup unless specific sewer backup coverage is added to the policy.

Tim Peddycoart – home insurance specialist for the Insurance Specialists Team says to “Check and find out if you have this important coverage on you policy and how much insurance coverage you have available. It’s inexpensive coverage and always seems like a bargain after a loss”

If you have a backup and water damage in your condo or home it can be a big and an expensive mess. It’s a common loss and most policies don’t include coverage for it or don’t provide not enough coverage. You can usually add more coverage to better address your need with an endorsement.  Some basements and lower levels are fully finished and/or store valuables. The cost to replace or restore is often not considered – until it’s too late.

This coverage is needed on condos and townhomes too.  The shared pipes can backup and damage connected units and dwellings below. The master policy likely does not cover this peril.

The cost to add backup of sewer and drain coverage is approximately $20 to $50 a year.  Thomas McAlpine from 24 restore reports “The average loss from water damage is $10,000.”