Homeowner’s insurance covers many different types of water damage. A typical homeowner’s policy covers top-down water damage. Our Neff & Associates Insurance Services team understands that understanding a homeowners’ insurance policy can be confusing. As a result, we are committed to helping Pismo Beach, CA customers understand their homeowner’s policy.
What Type of Water Damage is Covered by a Homeowner’s Policy?
A standard homeowners’ policy covers top-down water damage. Top-down water damage includes leaks from a roof, burst overhead pipes, sewer backups, drain backups, ground seepage, and more. Sudden and accidental water damage is covered by a homeowner’s policy, whereas gradual water damage isn’t. A burst pipe can cause sudden or accidental water damage. However, a leaky faucet that damages a wall over time is considered gradual damage and not covered under a homeowner’s policy. A standard homeowners policy won’t cover water damage caused by flooding either.
A standard homeowner’s policy won’t cover flood damage. You’ll have to purchase a separate flood policy to cover any damage caused by a flood. A flood is an excessive amount of water on land that’s usually dry. Flood insurance covers the damage caused by floods from storms, rivers, ponds, oceans, lakes, and too much rain. Homeowners who live in a flood zone should consider investing in flood insurance because a homeowner’s policy won’t cover flood damage. Our Neff & Associates Insurance Services team can determine if flood insurance would be a good investment for you. Call us if you have questions about what your homeowner’s policy covers. We’d be happy to discuss what kind of water damage is covered by your policy and the benefits of flood insurance.
As a Pismo Beach, CA business owner, you have a lot on your plate. There’s a lot to juggle, from managing employees to keeping up with inventory and meeting customer demands. And while you’re busy focusing on running your business, it’s easy to let insurance fall by the wayside.
What Are the Commercial Insurance Options?
Commercial insurance policies are available to business owners in Pismo Beach, CA. Some of the most common types of coverage include:
- Property insurance – This policy protects your business’s physical assets in the event of damage or destruction.
- Liability insurance – This coverage offers some protection if you’re sued for compensation or harm.
- Product liability insurance – This insurance policy covers if a product you sell causes harm or damage to someone.
- Business interruption insurance – If your firm is forced to shut down because of a covered peril, this policy covers lost income and expenditures.
- Commercial vehicle insurance – Businesses that use vehicles for work need this type of insurance to cover damages or injuries that may occur.
Your Neff & Associates Insurance Service specialist can help you choose the proper coverage.
How Do I Choose the Right Coverage?
There’s no one-size-fits-all answer with commercial insurance. The right coverage for your business will depend on several factors, including your business type, the risks associated with your industry, and the value of your assets. When assessing your needs, it’s essential to consider both the potential for liability and the possibility of property damage. These are two of the most common risks that businesses face.
A Neff & Associates Insurance Service expert can help you assess your risks and choose the right coverage for your Pismo Beach, CA business.
Contact us today for more information.