Drain, Sewer and Sump pump coverage.
Just the thought of any aspect of a sewer, drain, or sump pump conjures up terrible thoughts of expensive things, especially if something goes wrong. It is like the prospect of a transmission problem, or of having a root canal. In the home insurance world, these issues create a veritable nightmare.
Water is our biggest headache. The source of water determines whether a home policy or any property policy will respond. Surface water? No coverage under your home policy. This is a flood policy’s responsibility. Water coming into a basement through the walls or floors? You can’t buy this coverage under any circumstances. Water that comes from a broken pipe? Most home policies cover the resulting damage. (There is not coverage for the repair of the pipe.) Most home policies do not automatically cover water that backs up through a sewer, drain, or sump pump. If you want this coverage, it is an additional cost. In most cases, it is fairly inexpensive.
Do you have a wash tub, wash sink, or drain in your basement? Buy the coverage. On average, it costs between $300 and $5,000 to clean up an UNFINISHED basement. Is your basement finished? Buy the coverage. Do you have a sump pump? Buy the coverage. The insurance would pay if the sump pump doesn’t work due to a power outage, if it fails while pumping the water out or it gets inundated. Buy the coverage. Did I mention that you should buy the coverage?
Just an additional tip. Don’t store things on the floor. Put items up on a shelf, or store them in those large plastic containers.