Leakage / seepage water damage is the cause of most non-weather-related homeowners insurance claims in the state of Florida. It’s also one of the most likely types of claim to be associated with fraud. Coverage for hidden water damage has changed significantly over the years, and different insurance carriers handle these types of claims in various ways.
What Is Leakage / Seepage?
Leakage / seepage in reference to homeowners insurance refers to water damage that is caused over time, due to a slow leakage or seepage of water (often due to a broken pipe in a wall or floor). The amount of damage that can be caused by a slow leak can be extensive and costly to repair.
Is Leakage / Seepage Damage Covered By Insurance?
Ask your insurance agent about your policy’s leakage / seepage water damage coverage, also referred to as “hidden water damage”. Some carriers may specifically exclude coverage from damage deemed to be caused by poor home maintenance. Others may set an arbitrary time limit on reporting the damage – which often passes before the homeowner is even aware damage is occurring.
What Additional Problems Can Be Caused by Leakage / Seepage?
Besides damage done to walls, floors, and foundations, leakage / seepage can cause mold. Mold remediation may or may not be covered by your insurance company, and if covered, may have inflexible caps set on the amounts to be paid out for such claims.
What Should Be Done If Leakage / Seepage Is Discovered?
The first call you should make is to your insurance company – or, if you are an Olympus Insurance policyholder, you can call our water remediation partner, Rytech. Protect yourself, don’t call a plumber or contractor until the damage has been properly assessed by an adjuster, and don’t sign an Assignment of Benefits (AOB) form.
How Can Leakage / Seepage Damage Be Prevented?
Regular home maintenance can help prevent most leakage / seepage damage. Check pipe fittings and connections frequently to look for signs of leakage and monitor your entire home for damp spots on walls or floors. Catching a broken pipe early can help reduce the amount of damage done. A moisture sensor system can also be of assistance in alerting you to a leak in your home.
If you do find hidden water damage, report it as soon as possible and have the damage assessed by your insurance company. Stopping the leak and remedying any damage – including mold – will be a top priority. Olympus Insurance protects homeowners against most damage caused by leakage / seepage; ask your agent what your policy covers.
About Olympus Insurance Company
Headquartered in Palm Beach Gardens, FL and founded in 2007, Olympus Insurance Company specializes in Florida property insurance. Through its independent agency force, Olympus insures $40 billion worth of residential and investment property including homes, condos, rental property, and valuable personal property, with umbrella coverage and Spartan Enhanced Coverage available. Coverage for individual risks up to $5 million in total insured value is provided on one of the most comprehensive coverage forms in the industry.
For more information, visit olympusinsurance.com.