Water damage can be devastating to your home, leading to costly repairs and leaving you without a place to live. Unfortunately, it's a common occurrence in Illinois due to the state's frequent rainfall and the fact that many homes have basements. One way to protect yourself from the financial burden of water damage is by getting water back-up coverage. In this blog post, we'll explore what water back-up coverage is and why it's important for Illinois homeowners.
What is water backup coverage?
- Water back-up coverage is an optional add-on to your homeowner's insurance policy that protects you from water damage caused by a backed-up sewer or drain. This type of damage can occur when heavy rainfall overwhelms your home's plumbing system, causing water to flow back into your home through toilets, sinks, and floor drains. Water back-up coverage typically covers the cost of repairs to your home and personal belongings, as well as the cost of cleaning up the water damage.
How common is water damage in Illinois?
- Water damage is a common occurrence in Illinois due to the state's frequent rainfall and the fact that many homes have basements. In fact, according to the National Flood Insurance Program, Illinois is one of the top 10 states with the highest number of flood insurance policies. Additionally, a study by the Insurance Information Institute found that water damage and freezing accounted for over 30% of all homeowners insurance claims in 2019.
Why is water backup coverage important for Illinois homeowners?
- While standard homeowner's insurance policies may cover some types of water damage, they often exclude damage caused by a backed-up sewer or drain. Without water back-up coverage, you could be left paying out of pocket for costly repairs and cleaning up the water damage. This type of damage can be especially expensive, as it often involves replacing flooring, drywall, and other structural components of your home.
What does water backup coverage cover for Illinois residents?
- Water back-up coverage typically covers the cost of repairing or replacing damaged items, such as flooring, drywall, and personal belongings. It may also cover the cost of cleaning up the water damage and any temporary living expenses if you need to temporarily relocate due to the damage. However, it's important to read your policy carefully to understand what is and isn't covered.
How much does water backup coverage cost in Illinois?
- The cost of water back-up coverage varies depending on a number of factors, including the value of your home, the level of coverage you choose, and your location. According to the National Association of Insurance Commissioners, the average cost of water back-up coverage is around $50-$250 per year, depending on the level of coverage you choose.
Water back-up coverage is an important add-on to your homeowner's insurance policy that can protect you from the financial burden of water damage caused by a backed-up sewer or drain. In Illinois, where water damage is a common occurrence, it's especially important to consider this type of coverage. While the cost of water back-up coverage varies depending on a number of factors, it's generally affordable and can provide valuable peace of mind.