Reducing Costs of Water Damage Repair in Tough Economic Times
Reducing Costs of Water Damage Repair in Tough Economic Times
In today's economy suffering a water damage losscan beeven moredevastating considering tightened budgets and less spending that areaffecting everyone. There is just not enough roomfor overspending when dealing withnecessary water damage repairs caused by flooding from heavy rains and swelling river banks to leakinghot water heaters andspilling toilet overflows.Homeowners must use savvy sense to escape the crunchof high costs and eliminate the possible threat of furtherrepairs when water damage strikes.
Themost important point to look atis insurance coverage. There are basically two different types ofpolicies that cover water damage losses, flood insurance and homeowners insurance.The main differencebetweenthe two policiesis whetherwater touches theground beforeentering a home damaging its contents andtherefore is covered by a flood damage policy but not a homeowner's policy.If water damage occurs to a home and its contents before touching the ground there is coverage by the homeowner's policy. Having the best suited policy in place can save thousands of dollars in water damage repairs. To determinewhich policy is best suited for your specific needscontact your insurance provider.
Once a suited insurancepolicy isdetermined the only out of pocket expenseleft to the homeowneris the policy's deductible. These amounts can varyfrom carrier to carrierand it is good to ask for quotes from several different insurance providers before securing a policy. Normally finding a policy with alower deductible means a higher annual cost but this can be offset in one substantial way. Most water damage restoration companies offer reduced or waived deductible rates when contracting their services.
With a waived deductible and a proper insurance policy in place water damage repairs can be performed without breaking open the piggy bank and depleting hard earned savings.