What Insurance Covers Me for Water Damage?

All this water – Am I covered for that in Oregon?

Fall, winter, spring – in Oregon that means water. Are you covered? Generally speaking it depends on what type and amount of coverage you have. Car insurance, renters insurance, condo insurance, homeowner's insurance, and flood insurance all offer different amounts and types of water coverage.

If you have "Full Coverage" on your Oregon auto insurance then you have coverage for loss due to flood (comprehensive), or even if you have an accident and end up in a creek (collision). If you have "Liability Only" then you would have no water damage coverage unless you were involved in an accident that was someone else's fault. The cost of insurance depends on many factors; call a local agent for a quote.

Water damage under an Oregon renters insurance policy is one of the least appreciated coverage's provided by an insurance policy. In most circumstances water damage claims under a renter's insurance policy are the result of someone else's (aka neighbor) activities. Think fire two floors up and water hoses pouring into their apartment...water draining down into yours. Make sure you read your policy as there are usually limits about how much will be paid. Most renters' insurance policies run about $175 a year.

In Oregon homeowners/condo insurance the coverage works much like the renters insurance. Both policies cover sewer backups (toilet overflow), and provide some coverage for things like rain/ice/snow. But again, water damage is normally limited under most policies. And you will always have a deductible. Most importantly, it does not cover water coming from the ground up. Overflowing rivers, creeks, whatever the cause is only covered by flood insurance. Most homeowners pay about $650 a year for their insurance, condo insurance is about half that because it only covers the home from the studs in the wall inward.

Oregon flood insurance – wow this is the coverage that no one ever thinks they really need, until they find themselves in a flood situation. Even a tree falling down because the ground is too saturated and hitting your house is flood insurance. The tree fell because there was too much water in the ground...flood insurance. Flood insurance does not mean your roof is leaking. Again, think ground up. Did the problem start from water rising? If so not homeowners insurance, flood insurance. Most flood insurance runs around $300 per year, but depending on where you live it could be as high at $2,500. An insurance agent qualified to sell flood insurance can give you a quote.

Water is almost always a disaster, it just depends how much there is and what coverage you have. You may not think you need it for your car, but your house – even a rental – really? When the potential damage is so linked to everyone around you? Please get something in place – call us at 503-489-3143 or 503-693-2852.

Filing a Complaint Regarding Your Insurance in Oregon

Rarely should you reach the point where you must file a complaint with a government agency. Insurance agents and companies must abide by certain laws and guidelines. Consumers and policyholders must also provide complete and truthful information (including disclosure of all household members) and comply with the contractual obligations which are located in the policy that was mailed to you by your insurance company. Your time is worth something. If you feel you have been wronged in the handling of a claim, charging of a premium or processing of a policy, talk to your adjuster, agent or customer service representative first.

Read more: Filing a Complaint Regarding Your Insurance in Oregon