A Sewer Backup Endorsement to Your Homeowners or Renters Insurance Can Save You Money Later
In Most Cases, You can protect yourself from this "freak" event with an optional add-on for less than $50 per year
Most people don't know that insurance often doesn't cover you if something causes sewage to back up into your home. Damages from these types of incidents can add up to many tens of thousands of dollars quickly and make your home a HAZMAT site. But an optional sewer backup endorsement from your insurance company can save you a lot of money later. Without one, you can end up footing the whole bill.
the endorsement is pretty cheap
This optional insurance coverage is pretty cheap, often coming in at less than $50 per year for a $250,000 home. We've even seen rates as low as $7 per year to protect a $150,000 home! That's a cheap price to pay for the security this optional insurance endorsement provides. When you look at the cost of a sewage backup, you'll understand why it's important to have one. A small home can cost at least $10,000 to repair, with this number easily approaching $50,000. And this isn't something you should really do yourself. Sewage is a hazardous material and if not cleaned and repaired properly will cause a lot of problems down the road. That's why it's important to contact your homeowners or renters insurance company to get a quote.
Most homeowners insurance and renters insurance doesn't automatically include this coverage.
Most insurance companies don't include this optional coverage. It's all about business. When you call around or get insurance quotes online, the insurance companies want to show you the lowest price possible. So they don't include many of the optional endorsements that can raise your insurance quotes. So if you suffer a loss due to a sewer backup, you can count on having to foot the bill yourself if you haven't asked your insurance company to add it to your policy or quote.
you should still get an insurance quote even if you have backflow preventers
Depending upon when your home was built or remodeled, your home may have a device that prevents sewage backflows, or a backflow preventer. But even the best parts can fail, so you don't want to count on a backflow preventer to keep you safe. If you have children, you know they love to flush things. So a backup can happen anywhere in the line, including down the street. Think about the waste from all of your neighbors coming into your house. Yuck! Only insurance coverage can truly help if you ever have this type of event. So contact your insurance company for a quote on this coverage.
Costs that insurance will cover in case you need to file a claim
No matter how you look at it, 15,000 gallons of raw sewage isn't pretty. Cleaning personal items like toys, keepsakes and the like will be extremely difficult, if not impossible. Your homeowners or renters insurance policy will cover the cost to replace these items, but only if you have this coverage. Your insurance will pay to remove the waste, gut your home, decontaminate and rebuild. Insurance will even pay for you to stay in a hotel or a rental while your home is being repaired since the home will be hazardous. And don't forget about the cost to locate and repair the backup.
Don't want this coverage? Get an insurance quote anyway!
Even if you think you don't want this optional endorsement, you should still call your insurance company and ask for a quote. It might be cheaper than you think! Your insurance company can even give you estimates on repair costs that can change your mind. Besides, if you haven't made any changes to your insurance policy in a while, your limits of liability might need to be adjusted to reflect higher building costs.
you probably won't ever file a claim
Sewer backups are freak events, meaning they don't happen very often. You're more likely to experience a break in, fire or flood before you ever experience a sewer backup. But for the cheap cost of the insurance coverage, you really should consider having it.