- LIMITED HIDDEN WATER DAMAGE TRAVELERS MOD
- LIMITED HIDDEN WATER DAMAGE TRAVELERS FULL
- LIMITED HIDDEN WATER DAMAGE TRAVELERS PROFESSIONAL
Yesterday (Thursday Dec 16) the insurance claims adjuster came. At this time they suspected that grout/caulk degrading on a knee-high shelf in the shower was the cause of the leak. Moisture readings taken by the tech confirmed the water damage had spread beyond just the footprint of the shower. I filled a claim with my insurance that same day and contacted a water cleanup/restoration company, who sent out a tech to inspect the situation the following day (Monday Dec 13). Given that the master bathroom shower is directly above, we were pretty sure what the culprit was. Insulation was soaked, joists and subfloor soaked and moldy. I pulled the fixture down and felt around the surrounding drywall and sure enough my hand went right through.
LIMITED HIDDEN WATER DAMAGE TRAVELERS FULL
We looked up and one of the light fixtures in the room was literally full of water. This past Sunday (Dec 12) my kids were playing in the playroom and told us they "felt a drip".
LIMITED HIDDEN WATER DAMAGE TRAVELERS PROFESSIONAL
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LIMITED HIDDEN WATER DAMAGE TRAVELERS MOD
We have an active mod team, you will be banned. This will result in removal of the comment and could lead to your banning from /r/Insurance. If you disagree with someone, you can express that disagreement but insults and doxing are never permitted. This should go without saying, but you need to be civil. When submitting a question to the mods, please link to the post in the message so we can easily find it and fix it. Sometimes the auto-moderator marks stuff as spam, when it isn't. If you post and are unable to see it, please contact the mods. Please include your location, state/country, as insurance differs across borders. Reviews, feedback, comments and questions relevant to insurance. We are here to share relevant topics to promote insurance knowledge among professionals. Need help with a policy? Confused about your coverages? Want help shopping for insurance? We are here to help you!Ģ. To help our fellow redditors with any insurance related questions. This is a community of insurance professionals and geeks who love the field of insurance.ġ. This includes requesting a poster to contact you privately. Doing so will result in an immediate ban. *Please refer to complete policy contract and endorsement for complete definitions, exclusions and limitations.There is absolutely no solicitation. We realize that every policyholder has their budget to consider, so it is our hope to provide you with options and information so you can make the best decision for your family and know what to expect in advance of a claim. We work with several carriers who still provide this more comprehensive coverage. “Full Water” coverage does not have a dollar amount maximum limitation, nor does it limit coverage to water damage only resulting from specific sources. Of course, any homeowner could find themselves with water damages exceeding the benefits included in the “Limited Water” buy back provision, so we encourage all policyholders to consider an alternate quote that provides for “Full Water” coverage. Claims that occur in the kitchen, most frequently from broken pipes under the kitchen sink, causing damage to cabinets, in addition to flooring and drywall.Multi-story homes where a claim on the 2 nd floor can spread down to the 1 st floor.Here are some examples of water damage claims that frequently exceed the $10,000 limit: The most frequent claims we see in our agency are water damage claims, so we want our policyholders to be aware of this limitation.
Water causing damage to the home in any other way, such as a leaky roof, would not be covered under the “Limited Water” buy back. The source of the water damage must be from plumbing or an appliance, such as an air conditioning unit or hot water heater.
This is a limit a policyholder with this provision will want to keep in mind as they are working with contractors after a claim to make sure they stay within their budget. The amount of a claim is limited to a $10,000 payout.The “Limited Water” provision reduced policy benefits in the following *2 main ways: Water damage claims have skyrocketed over the past several years due to Assignment of Benefit, or “AOB” fraud (a blog post for another day…) and the insurance companies have been forced to adapt their policy contract language in order to keep insurance premiums affordable for Florida homeowners. The Florida property insurance market is changing, and one of the biggest shifts we have seen over the last several years is the new “industry standard” for water damage coverage for older homes (usually 30-40+ years old) changing to a “Limited Water” buy back provision.
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