An insurance claim tends to be the first thing clients turn to when they notice their foundations need repairs. It makes sense.
You pay into your insurance policy for years without ever needing it, and now you’ve been given a quote for thousands of dollars you don’t have. Naturally, it tends to come as a bit of a shock when insurance companies can’t pay out.
It’s unfortunate, but there are reasons for that.
To help you better understand whether homeowners insurance covers foundation repair, we put together this brief guide to homeowners insurance and how it works with our services.
Some of it is good news, and some are not-so-good news, but you will find that you always have options when working with a team of dedicated professionals.
Let’s jump right into it.
Why Did My Homeowners Insurance Deny My Foundation Repair Claim?
It’s not uncommon for people to wonder if homeowners insurance covers foundation repair. We understand the question and the frustration that often comes with it.
You notice the signs of foundation damage, get a quote, and think insurance will handle it, only to be turned down immediately.
Well, that’s because of what homeowners insurance is for.
It’s not a general insurance policy to help you keep your house in order. It’s almost entirely there just in case something happens that doesn’t occur naturally.
For example, if you have an exposed basement, and a drunk driver flies off the road into your home, cracking it severely, your homeowner’s insurance should pick up the bill.
However, if your home is old, the ground has shifted over time, and the concrete simply degraded naturally, the homeowner’s insurance provider isn’t required to pay you.
It’s unfortunate, but it’s not the end of the world.
What To Do If Insurance Denies A Claim For Foundation Repairs?
Unless something happened out of the blue, your homeowner’s insurance is unlikely to pay for the damage to be repaired. It’s simply not in most insurance policies.
That can be a pain because Texas has a lot of harsh weather and geological conditions that can cause foundation problems over time.
However, you have options.
First, you might be able to get the repairs covered under a different policy. Don’t worry about figuring this out on your own.
If you’ve been denied, our team can perform a free inspection, determine the damage’s cause, and determine if you have an insurance policy that might cover it.
It’s not guaranteed, but if it’s flood damage and you have a flooding policy, that might help. Along with several other unique circumstances.
Even if that doesn’t work, you can get help.
We offer multiple financing options for all of our clients in the North Texas region.
This helps Texans receive top-quality foundation repairs even when homeowners insurance and other insurance policies won’t cover the damage, and while it doesn’t lower the price, it does mean that you can pay it in low-cost installments.
You don’t even pay anything upfront. Until your foundation repair is completed, there are no payments to make. Not even a downpayment.
We partnered with WiseTack to offer this comprehensive financing service because we understand that homeowners insurance rarely covers foundation repairs, and we cherish our North Texas community. Besides this, we also offer lifetime warranty coverage for our services!
By offering this, we let you bypass the insurance company, and you don’t have to worry about getting thousands of dollars upfront to pay for such a necessary repair.
There are other options at your disposal, too.
If you have most of the money in your savings, you might want to consider getting a personal loan through your bank, and if you’re able to get the rest of the money soon, you could simply save for it.
Having at least most of the money is a best-case scenario, and we know that isn’t the case for many people. It is an option, though.
What are the Costs of Repairs without Help from Insurance?
Financing is always a great option, but that still means you’re paying full price for the repair. It’s just spread out over time.
So, how much does it cost to get foundation repairs when homeowners insurance won’t cover it?
This varies dramatically depending on the type of damage and the extent of the damage.
Most homeowners should expect to pay between $5000 and $10,000. This accounts for an average amount of wear and tear, and some ground shifting, but not a lot of extensive structural damage.
In the worst-case scenario, it can cost up to $25,000. That’s typically only the case if there is extensive damage that either wasn’t noticed or was unfortunately neglected and allowed to persist for years.
It’s not something that just pops up unless a serious disaster occurs, and that’s when homeowners insurance typically kicks in. So, luckily, most homeowners won’t have to deal with this.
A good way to minimize these costs is to look for signs of damage early. Water damage around the edge of your home from bad gutters, sinking around the home, bowing floors or walls, and other things are all clear signs that something is wrong.
Call PermaTech Foundation Repair Today
For all those wondering if homeowners insurance covers foundation repair, our foundation repair professionals have got you covered!
The longer you wait, the worse it gets, and we’ve set up the infrastructure to make it easy for our community to afford these necessary repairs without breaking the bank.
If you need foundation repairs in the Dallas-Fort Worth metro area, contact PermaTech Foundation Repair today.
