The Unexpected Loss
All too often it is the unexpected loss that catches us by surprise. If you live in a multi unit dwelling, apartment, duplex, condo, or townhouse, you could be subject to mishaps that happen in others units.
If the unit above you has a washing machine malfunction, pipe burst or water heater blow-out, guess what happens? Water from those incidents ends up in your unit. This happens at a surprising and alarming rate.
The water can range from a little ceiling and wall damage to a complete flood.
What would you do if you had to vacate while they repaired the ceiling and walls? The upstairs unit and your landlord, in most cases, ARE NOT liable for your expense to find temporary housing.
If you experienced standing water from such an event, even a few inches, all of your belongings that became water damaged would most likely NOT be covered by your landlord’s insurance. Additionally, you would need to find temporary housing while your home was repaired.
This type of coverage is referred to as Water Back-up and is different than traditional flood or rising water coverage.
Water Back-up coverage is a must have as part of your renters’ insurance policy if you share a common wall with a neighbor.