The best way to know if water damage is covered by your insurance policy is to closely read your policy (perhaps with the assistance of an attorney) and to discuss the policy with your insurance company.
Water damage is one of the more tricky types of property damage when it comes to insurance coverage. While many general policies do not cover flooding, they may cover the effects of flooding or other types of water damage. Examples of things that are covered include damage caused by a broken pipe or a broken air conditioning system.
After you have discovered water damage in your industrial property, there are immediate steps to be taken. It is vital that you document the damage carefully, find the source of the damage, and inform your insurance company as soon as possible. Keep close track of any expenses related to your loss as well as any repairs that you make. Also keep track of communications you have with your insurance company regarding the loss event.
There are two issues unique to water damage claims that you should keep in mind:
- It is vital to discover the source and the extent of your water damage. If you don’t deal with the origin of the problem, it can spread, ruining any restoration efforts that you have made. At the same time, if you do not discover all of the damage (such as mold damage), you may not receive claim money to make all necessary repairs.
- It is vital to remove water from the area immediately after documenting the issue. Water can quickly cause damage and mold can begin forming just days after substances are exposed to moisture.
High-rise water damage claims can be complicated. If you believe that your insurance company is wrongly denying your claim, delaying your claim, or underpaying your claim, you may wish to speak with an experienced industrial insurance claim attorney. Call the Voss Law Firm today to schedule a free, confidential consultation: 888-614-7730.