By carefully inspecting your home, you have discovered cracks in your foundation. You’re thinking about repairing it, but you’re not sure if your home insurance will cover it.
Here’s a general guide to help you get a clearer picture.
Home insurance: unique to everyone
Home insurance is an essential protection when you own a home or building. It allows you to have peace of mind knowing that it will protect your property and real estate investments in the event of a loss. Because it is tailored to your situation and your home, each insurance policy is different and varies depending on your case. It is therefore necessary to understand the contract you have signed up for in order to know its terms.
Typically, an insurer offers two types of contracts. The first, “Specified Risks”, limits the number of risks that are covered, while the second, the “All Risks” formula, allows you to cover all risks, except for certain specific exclusions.
The crack as a consequence
The presence of a crack in your foundation can be a symptom of a serious problem regarding the stability of your home and lead to deplorable situations. Knowing the cause of the crack becomes imperative, as it informs you of the steps to follow to repair it and determines if it is part of the provisions covered by your insurance.
Ground Movements
Subsidence and changes in soil composition can deteriorate your foundation. In this case, the majority of home insurance policies will not be able to take this type of damage into account. However, you should know that some cities in Quebec, such as Montreal, offer financial assistance to cover part of the costs and work to residents who are at risk of such an eventuality.
Natural disasters
Some cracks can be the result of natural disasters. Contrary to popular belief, damage related to natural disasters (tornadoes, windstorms and hail) is covered by home insurance. As for damage resulting from earthquakes, it can also be added to your insurance policy when you take it out.
This is in contrast to damage caused by flooding, due to the overflow of a river, which is generally not covered by insurance.
You must therefore be vigilant and communicate with your broker to ensure that you are properly protected.
A crack leads to water infiltration: is it covered?
The appearance of cracks in the foundation of your home increases the risk of water infiltration. The damage associated with it is the main source of claims against insurers. While most insurance covers damage caused by a broken pipe or faucet, this is not always the case when it comes to water from outside your home.
However, it is possible to add certain coverages to your insurance policy to cover damage caused by water runoff from a foundation in poor condition.
In short
There are several types of home insurance available to you, so it’s important to choose one that suits you and your home’s needs.
If you have any doubts or questions, contact your insurer. He will be able to answer you and offer you a coverage that suits you, while avoiding unfortunate situations.
A cracked foundation should never be taken lightly, whether it’s cosmetic or part of a structural problem. The sooner repairs are made, the less expensive they will be. Damage caused by a crack that has been neglected will most likely not be covered by your insurance.
So don’t delay in contacting one of our experts who will quickly be able to examine it and recognize the causes.
Need a Crack Repair Expert?
If you notice cracks on your foundation, it is important to act quickly. Fissure Expert offers professional foundation crack injection services throughout Quebec. Call a certified foundation crack contractor for a free estimate. We serve Laval, Longueuil, Sherbrooke and many other cities.