What are we looking at here?
Question:Hello, We just had some major water damage done to our home, we have insurance and was told today that the floors are going to need to be redone,walls and cupboards will need to be redone in the ketchen and our laundry room will need to be done (walls and floors) and underneath the house will need work.The hot water tank pretty much burst at the seams and leaked everywhere
Any ideas on how much we will get? We are hoping it will pay for everything.
Answers:
If you have a clause in your insurance that is called "replacement coverage" then it means you can also file for replacement of certain items.
When my water heater burst, I happen to have a stack of laundry and a pile of wool blankets, and a pile of dry cleaning that was all in the laundry room. Water heaters have all sorts of crud in them and of course the fine fabrics in the dry cleaning and the wool blankets were distroyed. I hadn't really thought about it too much because I was bust worrying about all the other drama, but I had a great insurance guy who had me did through papers and receipts, then go out to the mall to get estimates on replacement costs. I had no idea how valuable that coverage ended up being. There were a few things they of corse didn't allow, but there were many things that they did cover. I'm sorry for what you are going through. I feel your pain.
Yeah, it should pretty much pay for everything except your deductable. That depends on what you set it at. It's usually between $250.00 - $500.00.
Sorry about your mini-flood! Hope I helped a bit!
Your insurance should cover it, but sometimes your idea of what needs replacing will differ from the insurance company's idea. Hopefully you'll have a sympathetic adjuster, but be prepared to have to lay out some cash because they will pay out the absolute minimum they can get away with under your policy.
What you will get paid for depend on your coverage. Flood damage is a separate clause sometimes. Make sure you have photos and detailed information (documentation) before the clean-up begins.
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