Limited Water Damage Coverage Vs. Full Water Damage Coverage

March 20, 2023

When looking into flood insurance Tampa FL policies, understanding both limited water damage and full water damage coverage is crucial. What are the differences between these coverages, and why is it important? Did you know around $14,000 people every single day are impacted by water damage? When breaking it down into finer details, roughly 1 in 60 households is affected annually. While the answer may seem simple, there is much more to it. HH Insurance will break down these flood insurance Tampa FL, policies into further detail.

Homeowners Coverage for Water Damage

To understand the differences, we must first understand the coverage itself. Water damage coverage protects from unexpected loss or damage from things such as a pipe bursting in the wall, a leak from the roof, a faulty water heater, etc. In short, an internal loss is created from water.

What is limited water damage coverage by insurance?

Some carriers offer limited coverage within the homeowners insurance Tampa market, while others provide full coverage. Limited coverage typically offers a maximum of 10k (some homeowner insurance Tampa carriers will allow you to increase this limit). Full water damage coverage covers the policy limits. For example, if your house is insured for 300k, you cover a water loss up to 300k.

For example-

Let’s say you are just getting back from walking your dog, and as you open the door, water starts pouring out at your feet. After frantically running to the garage to cut off the water, you realize a pipe under the sink has burst. This ruptured pipe eventually requires new cabinetry, wood flooring, baseboards, etc. A week goes by, and you learn the repairs will cost you $32,000 to get this back to where it was before that pipe burst.

Should you have a limited water damage policy with your homeowners insurance Tampa policy, after paying your $2,500 deductible, the insurance carrier would cover the first $10,000 in damage. You would still have the remaining $22,000 to pay out of pocket.

Does full coverage cover water damage?

Should you have FULL water damage coverage within your flood insurance Tampa FL policy, after paying your $2,500 deductible, you would be fully covered for the $32,000 damage since the damage was within the policy limits.

The next time you take out a homeowner insurance Tampa policy, confirm with HH Insurance which type of coverage you have. It could become a significant financial burden if you are not adequately covered!



**This blog provides a brief overview of the terms and phrases used within the insurance industry. These definitions are not applicable in all states or for all insurance and financial products. This is not an insurance contract. Other terms, conditions and exclusions apply. Please read your official policy for full details about coverage. These definitions do not alter or modify the terms of any insurance contract.