Homeowners need to know if insurance covers foundation repair. There seems to be no limit to the costs you can endure as a home or business owner. From general maintenance to big-ticket expenses, a surprise expense can come around at any time and if you are not financially prepared it can cause a hardship on you and your family.
In order to protect ourselves financially, we buy home insurance to cover damages and liability, however many people don’t understand exactly what their home insurance covers and what it does not cover. The only way to know if insurance will cover your foundation is to check with your individual insurance provider. In most cases, insurers do not cover foundation repair claims.
Foundation Repair Costs
One of the more expensive issues you may run into with your home is issues with your foundation. Cracks, leaks, drainage issues, and uneven floors can all be signs of a foundation in need of repair. Once you have a professional come out and give you an estimate you could be looking at some big payments. On average slab foundation repair in Dallas will run from $2,500- $7,000 dollars. The amount will depend on the damage, if the repair is just a few cracks it will be more affordable than more extensive repairs. We urge you to get a free estimate to learn exactly how much your repair would be!
Now that you have an estimate on how much your repairs will be, you might want to see if insurance on your home will be able to help offset the cost. It is on rare occasions that insurance companies cover foundation repair. However, if any of the circumstances below apply to your damage or if you have separate earthquake or flood policies it’s worth giving your insurance company a call.
- Natural disaster where the home needs to be rebuilt
- Plumbing malfunctions
We know that foundation repair is something you don’t want to spend money on, however ignoring your foundation issues will only increase the damage and eventual cost. It’s important that once you notice an issue you contact a professional to learn your options.