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It depends on what caused the water damage. Damage caused by a burst pipe is typically covered, as long as the damage is sudden and accidental, and the homeowner has taken proper steps to prevent ...
An insurance policy may or may not cover the costs associated with water damage and the process of water damage restoration. While a common cause of residential water damage is often the failure of a sump pump, many homeowner's insurance policies do not cover the associated costs without an addendum which adds to the monthly premium of the policy.
A peril refers to an unpredictable event that causes damage to your property, like an accidental kitchen fire, a windstorm or a burst pipe. Your home insurance will typically include a list of ...
A Mexican artist whose Meatpacking District gallery was flooded by a burst water pipe claimed his insurance company is only shelling out a measly $9,000 for paintings worth $25 million, according ...
An 18th-century fire insurance contract. Property insurance can be traced to the Great Fire of London, which in 1666 devoured more than 13,000 houses.The devastating effects of the fire converted the development of insurance "from a matter of convenience into one of urgency, a change of opinion reflected in Sir Christopher Wren's inclusion of a site for 'the Insurance Office' in his new plan ...
On April 20, 2002, McMahon sued his insurance company for more than $20 million, alleging that he was sickened by toxic mold that spread through his Beverly Hills house after contractors failed to properly clean up water damage from a broken pipe.
The bill would amend the National Flood Insurance Act of 1968 to prohibit the Federal Emergency Management Agency from providing flood insurance to prospective insureds at rates less than those estimated for any property purchased after the expiration of such six-month period (currently, any property purchased after July 6, 2012). [9]
Drainage law is a specific area of water law related to drainage of surface water on real property. It is particularly important in areas where freshwater is scarce, flooding is common, or water is in high demand for agricultural or commercial purposes.