Is your basement protected from water back-up?

By Seth Zaremba, Zinc Insurance

There’s a difference between basement water back-up coverage and flood insurance.

If you live in a flood zone, you have likely secured proper coverage per your lender. But whether you live in an area prone to flooding or not, water back-up can happen to anyone.

For about $80 per year, you can be protected with $5,000 of coverage if your sump pump breaks or your sewer lines decide to turn on you. That’s the basic amount we suggest for our clients.

But many people are investing heavily in their basements, turning them into entertainment zones that rival the upstairs. Some have laundry rooms, and almost all basements house the furnace and hot water tank. In these cases, $5,000 is not enough, so a higher coverage option to protect your investment is essential.

Water back-up coverage functions as an endorsement on your homeowner’s policy, and it’s possible that it has a separate $500 deductible. Regardless of what your homeowner’s deductible may be, with certain companies $500 would be all you would pay out of pocket, and that’s a relatively small expense considering the average hot water tank replacement can run about $800.

If you’d like to have an intelligent conversation about how Zinc’s water back-up policy can keep you protected, I invite you to give us a call.

Zinc is located at 3505 E. Royalton Rd., Suite 110, in Broadview Heights. The phone number is 440-740-3540. Office hours are Monday-Friday, 8:30 a.m.-4:30 p.m. Find them online at ZincInsurance.com and on Facebook atZinc Insurance.