Whether or not you can make an insurance claim based on water damages depends on various factors. This article outlines what home insurance typically does and doesn’t cover, as well as how to make sure you’re adequately protected.
According to the Consumer Financial Protection Bureau (CFPB), homeowners insurance, sometimes referred to as hazard insurance, protects your property and other assets in case of an unforeseen disaster. It pays for losses and damage to your property if something unexpected happens, such as a fire or burglary. Furthermore, your lender usually requires proof of homeowners insurance when you have a mortgage.