I have a rental property, recently the water heater piping was leaking and caused mold inside the drywall. I paid my property manager $ 450 to replace the water heater as suggested by property manager and another $ 550 to clean the mold and patch the drywall.
My homeowner insurance covers “The alterations, appliances, fixtures, and improvements which are part of the building contained withine the “residence premises. And structures owned solely by you, other than the “residence premises”, at the location of the “residence premises”.
Does anyone know in this case the expense of the water heater replacement and drywall work will be all covered or just portion? I called insurance company and they ask me to file the claim with pictures for their investment and can’t tell me if be covered or not now.
My deductible is $ 500, I am not sure if this is worthy to file the claim if only portion be covered. So it could be ending with small amount reimbursement and big jump of next year’s insurance premium. Can anyone help me with this? Thank you so much
homeowner insurance reimbursement for water heater
I would look at the exclusions in your policy, this should make it clearer to you what is exactly covered. If you are still unsure, call your insurance agent and see what the best course of action is. You have already put $ 1000 into this, and with a 500 deductible, it may not be worth it if your premiums go up. You are really only making a $ 500 claim, so really ask yourself is it worth it? I would just take this as a loss, hopefully this doesn’t happen again.
If they are smart, they will pay you, less the deductible.
If they are not, they will deny it, and then YOU will go hire a public adjusting company who will come to your house and find a few thousand bucks more damage and make them pay that too.
Your insurance should pay a portion of your water damage unless there is an exclusion for water damages. All insurance companies in the US will NOT pay for mold damage and the associated costs of mold removal. Needless to say that they will not pay for your replacement water heater.