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Will Homeowners Insurance Cover Home Foundation Repair in Ohio?

Will Homeowners Insurance Cover Home Foundation Repair in Ohio?

You know that your homeowner’s insurance will cover damage from fire, lightning, and fallen trees. But will it cover home foundation repair in Ohio? The answer to this question is maybe. Below we will explain different foundation issues and what is covered by homeowner’s insurance. Visit us on our website for additional information about foundation repair in Ohio.

When Does Homeowners Insurance Cover Home Foundation Repair in Ohio?

Your foundation is covered by homeowners insurance like any other part of your home. However, many causes of foundation issues are excluded from standard policies. You’ll need to read your policy carefully to know what damage it covers and what it doesn’t.

Your homeowner’s insurance policy lists everything that the company will cover. To see if your home’s foundation damage is covered, you’ll need to check the dwelling coverage portion of your policy.

Most home insurance companies cover the following foundation repairs in Ohio if it’s damaged due to the following perils:

  • Fires
  • Lightning
  • Collapse due to snow or ice

Typical homeowners insurance covers things like the following. However, the specific date of the event has to be proven.  

  • Vandalism
  • Falling objects
  • Water damage from plumbing, heating, or AC overflow
  • Explosions
  • Damage caused by vehicles
  • Windstorms
  • Fallen trees
  • Damage caused by civil disturbances and aircraft accidents

Special Note – Ohio has a fund to insurance property that’s in danger of sinking due to old coal mines. Coverage listed in mandatory coverage counties much protect against this type of damage.

When Will Homeowners Insurance Not Cover Home Foundation Repair In Ohio?

Some foundation damage is not covered because of specifically excluded causes. Below you’ll find some standard exclusions but read your policy for the complete list found on the HO-3 special form.

  • Natural settling, shrinking, bulging, expansion, and cracking of the foundation.
  • Wear and tear, marring, deterioration
  • Earthquakes – can be purchased separately.
  • Flooding – can be purchased separately
  • Tree root pressure
  • Sinkholes
  • Rodents, insects, and vermin
  • Faulty design or construction

What To Do If Homeowners Insurance Won’t Cover Foundation Damage?

If your homeowner’s insurance doesn’t cover your home’s foundation repair in Ohio, it can be stressful. Foundation repair is expensive – from crack repair to push pier and helical pie underpinning. While necessary, many homeowners are left in a panic trying to figure out how to afford this expense.  Not everyone has cash on hand or enough in their savings accounts to fully pay for their foundation repair.

Most foundation repairs cost between $2,320 to $7,000, depending on the amount of damage. However, if your home requires major repairs such as piering, it can cost from $10,000 to $15,000, depending on the number of piers you need.

Foundation Repair Financing Options

Foundation repair in Ohio isn’t something you can put off because it’ll only get worse. When cracks start to appear, that’s only the beginning. Soon you’ll notice wet spots or moisture in your basement, then water seeping in, etc. The good news is that there are many options to help … Read More..