Home insurance is one of the most important policies a person will have because it covers what is, for many people, the most valuable asset they have. This insurance will help provide coverage and pay for damage that the home, property or other buildings on the property sustain in certain situations.
One of the most expensive, and worrisome, damage that can occur at a home is a slab leak. Not only can the damage caused by a slab leak be significant, but the repair can be as well — in terms of what it takes to fix the problem, how long it takes and how much it will cost.
So, does home insurance cover slab leaks? The answer is that it depends. Below, we’ll dive further into this topic.
What’s a Slab Leak?
Some homes are built on concrete foundations, which are referred to as a slab. In many cases, there are sewer and water lines that run from the home underneath the slab to connect to the municipality’s sewer and water sources, or to a home’s well or septic systems.
Slab leaks occur whenever one of these lines deteriorates or breaks, and then subsequently spill water under the foundation of your home. They can also occur if the slab itself cracks or breaks — possibly due to changing extreme temperatures of the seasons — and then does damage to the pipes below.
One of the biggest challenges to a slab leak is that they are hard to detect. The damage won’t often be obvious right away. Water may not immediately flood into your home, for example.
Undetected leaks can be very dangerous, because the damage can go unchecked for quite some time. This often results in significant damage once it is found, and necessitates and large reclamation project to fix.
How Much Does It Cost to Fix a Slab Leak?
How much a slab leak costs to fix depends on how substantial the leak is, and what caused it. If there is a small crack in your foundation and a small crack in a pipe below it, then the cost could be a lot less than if the entire foundation is cracked and all the pipes below it are as well.
If you’re able to catch a crack early, fixing it may cost less than $1,000. If you need to repair a large section of the slab — or replace it entirely — your costs can easily skyrocket to close to $10,000.
It’s also important to understand that this may not include the cost of repairing any damaged pipes, or repairing and/or replacing anything within your home that was damaged due to the slab leak.
Does Home Insurance Pay for Slab Leaks?
Home insurance policies typically describe the types of damage that they cover, and the causes of the damage that are eligible for this coverage. Known as covered perils, they most often include risks such as falling objects, wind and fire damage.
If a major weather event such as a tornado causes damage to a home and its slab, for instance, your home insurance policy will likely pay to have the home and slab fixed. If your policy has wind coverage, then it likely will provide payments for slab damage as well.
That being said, it’s important to understand that there are different subcategories included in your home insurance policy that state how and what will be covered.
The dwelling coverage is the main part of your home insurance plan. It covers your home’s main dwelling and any structures that are directly attached to it, such as a garage.
In most cases, your home insurance’s dwelling coverage will help to pay for the repair and/or replacement of the slab if it’s suffered damage. However, it likely will not cover any of the work it takes to repair damaged plumbing that lies underneath the slab.
In some cases, a slab leak may result in other personal property within your home being damaged. If you have a basement where you store a lot of personal items, these could be damaged by a slab leak.
Your home insurance’s personal property coverage will help to pay for the repair and/or replacement of the items that were damaged as a result of the slab leak. This will provide the homeowner will some peace of mind if personal items are damaged due to a slab leak.
There are two things to keep in mind, though.
First, personal property coverage has a limit and a corresponding deductible. You are responsible for paying the deductible before your insurance policy will provide any coverage at all, and it will also have a stated coverage limit that will tell you how much money you can get for repairs and/or replacement.
Second, the covered perils also apply to personal property coverage. If the damage was caused by a covered peril, then your personal property coverage can kick in. If not, then you likely won’t receive any help to pay to replace and/or repair your personal property.
Work with an Insurance Company You Can Trust
Slab leaks can be one of the scariest types of damage that your home can sustain. They can go undetected for a while, cause a lot of damage, and be very challenging and costly to repair.
That’s why it’s important to understand what type of coverage your home insurance provides you in regard to slab leaks. If your home is built on a concrete foundation, knowing what type of coverage your policy provides is essential.
When you work with an insurance company you can trust like Signature Insurance, you can rest assured knowing that all of your questions and concerns about slab leaks — and anything else — are thoroughly answered before you sign up for a home insurance policy.
Contact us to learn more and to get a free home insurance quote.