When it comes to protecting your home, house insurance is a key component in ensuring you are financially covered in the event of damages. However, many homeowners may not realize that not all house insurance policies cover foundation problems.
Foundation problems can arise due to a variety of reasons, such as poor construction, shifting soil, or water damage. These issues can lead to cracks in the walls, uneven floors, and even structural damage to the home. Unfortunately, repairing foundation problems can be costly, with repairs ranging from a few thousand dollars to tens of thousands of dollars.
So, what does this mean for your house insurance policy? Well, the truth is that most standard house insurance policies do not cover foundation problems. This is because foundation issues are typically considered a maintenance issue rather than a sudden and accidental event that is covered by insurance.
However, there are some exceptions to this rule. Some house insurance policies may cover foundation problems if they are caused by a covered peril, such as a burst pipe or a natural disaster. It is important to carefully review your house insurance policy to understand what is and is not covered.
If you are concerned about foundation problems and want to ensure you are covered, there are additional insurance options you can explore. Some insurance companies offer supplemental foundation insurance or endorsements that can be added to your existing house insurance policy for an additional cost.