26 Jul Protect your property – and what’s underneath
Homeowners are liable for repairs due to damaged service lines that break on the insured property. In the event that this occurs, total losses could add up to hundreds or thousands of dollars. Don’t get caught in this unfortunate situation that your property is not covered, add service line coverage to your policy today.
What is Service Line Coverage?
Service line coverage is optional insurance that protects homeowners in the event that an underground utility or service line becomes damaged or needs to be repaired. Homeowners are responsible for the costs of repairing these lines in the case that one becomes damaged, if not insured. Unfortunately, most homeowners insurances do not cover this type of risk, leaving a majority of homeowners finding out too late that they are responsible for paying for these repairs out-of-pocket.
Why is it Important?
This type of coverage is extremely important because out-of-pocket costs to repair these lines may be significant depending on the damage. This type of coverage closes the gap between you and the part of your homeowner’s policy that does not cover service lines. Losses can run into thousands of dollars and are payable immediately to begin repairs. This is critical to you and your family’s well-being, especially if you cannot pay this cost to make your home habitable again after damages occur.
What it Covers
You should call to speak with your agent in order to find out what options are the best fit for you. Typically, service line coverage covers:
- Expenses for repairs and permanent replacements to underground utility lines
- Excavating costs necessary to repair damaged service lines
- Damage to property as a result of covered service line failure
How to Determine If You Need Service Line Coverage
To assess whether you need this coverage, consider the following:
- Review Your Current Policy: Check if your homeowner’s policy covers service lines or if there’s a gap.
- Inspect: Identify the location of underground utility lines, including water, gas, and electrical lines, and consider their age and condition.
- Consult Your Agent: Speak with your insurance agent to understand the potential risks and the coverage options available to you.
Service line coverage offers a simple and affordable solution to protect you and your property, so you can rest assured knowing that you will be protected. Not all policies are the same, so please contact us today for a consultation with your Personal Risk Advisor.
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