When do you pay for water damage?

December 20, 2010 4:43:51 PM PST
With all the rain and winds you could experience damage to your home. So when does your insurance company pay and when do you pick up the tab?

The basic rule of thumb is if water rises, you pay. If water falls, your insurance company pays. However, there are exceptions.

If you have flood insurance and water rises, officially that is flooding and you are covered.

If you have a bad roof water damages your home, you are on your own. But if the wind blows off your shingles and water gets in, then your insurance company pays.