Staying in a condo requires maintenance and one unfortunate circumstance that could happen is with your plumbing. Unfortunately, your condo insurance doesn’t automatically have sewer backup authorization on your agreement. So, you might be wondering whether you need it. Like most insurances, sewer backup insurance isn’t mandatory but may come in handy in case of unforeseen circumstances. This insurance is typically covered under your house insurance which you pay for via your condo payment. While that’s true, there could be a stoppage in another condo that could escape to your bathtub, sink, toilets, or whatever exit way is just above the blockage. The building’s insurance may cover a fraction, but if you’ve remodeled beyond the standard, consider taking sewer backup endorsement in your insurance. For unplanned expenses, sewer backup insurance is a good idea. Here are other factors that can help determine if you need sewer backup insurance for your condo:
It’s Relatively Reasonable
Sewer backup insurance is not as expensive as you may think. It normally costs roughly around $40 to $250 every year. It’s an investment that could save you a lot more in case of an emergency. How costly the insurance will depend on the probability of your condo encountering water, sewage defects due to damaged sewer pipelines, and the limits you select. Since the cellar is at an increased risk of suffering water damage, you have to choose your limits based on what you’ve stored in it. Make sure that you file insurance that covers all water damage in case that occurs in your condo. Of course, it’s important to evaluate how much the insurance costs relative to how much you earn. Regardless, it’s worth considering since it could end up saving you money in the long run.
Water Backups Can Occur Anytime
You’d be surprised how unannounced this problem can creep up on you and cause massive inconvenience. You might not know this, but the roots of the trees growing in your backyard can spread to your pipelines which may cause blockage in your water pipes. This blockage damages your sewer system. Other reasons, such as heavy rains or snow and aging sewer systems all contribute to water backups. This can cause a huge hassle if you’re in the bathroom and, at that moment, the water doesn't come. Hence, it doesn’t matter where you live; it could be in a basement or in an area that doesn’t experience rain at all; sewer backups can occur anywhere and anytime to cause potential loss. So, this insurance is extremely useful to manage emergencies.
The Bottom Line
The first thing you should do is call your insurance company to determine how much this will cost you. Sewer backup insurance can result in more benefits than costs and you should determine where the responsibility for condo sewer backup lies. You should also inquire about content limits; these are typically dictated by risk, so if you live in an area that’s more likely to experience water backups, expect a higher quotation. Don’t wait for an issue to occur before you decide to get sewer backup insurance for your condo. It’s always better to plan so you can do damage control if your condo experiences devastation due to water backup. If your condo is currently insured, find out whether sewer backups are covered. If not, you know what to do!