You probably have homeowner's insurance, but have you ever sat down and carefully gone over what's covered and not covered under your policy?
For instance, your home insurance likely will cover water damage to your HVAC system if the damage occurs from burst pipes or an overflowing condensate drain in the house. But if the outside unit of the air conditioner gets flooded by rising water from a nearby stream or a major storm, you could be out of luck unless you have separate flood insurance.
So what else should you know regarding what home insurance covers and doesn't cover?
Likely Covered
Here are some scenarios where home insurance is likely to pay for your claim to replace or repair your HVAC system:
Storms
Although homeowners' insurance won't cover outdoor flooding, it will usually cover damages from storms, such as a tornado or hailstorm. Also, a windstorm that hurls a tree limb into your outdoor condenser and damages it would be covered, as would an ice storm that harms the parts inside the air conditioning unit.
Theft or Vandalism
Your homeowners' insurance should cover the cost of replacement or repair if your condenser is stolen or vandalized.
Fire
In the case of a fire - from natural causes, electrical problems or from a fireplace or furnace - the homeowners' insurance policy should pay for replacing or repairing the HVAC system.
Not Covered
Here are some scenarios when your homeowner's insurance probably won't pay:
Earthquakes
Earthquakes are become more frequent in Oklahoma, and more homeowners are becoming concerned about earthquake damage to the home. Be advised your policy likely won't cover damages to the home from an earthquake, including damages to your HVAC system. You should obtain a separate policy if you are concerned about earthquake damage.
Age-Related Breakdown or General Wear
Homeowners' insurance will not cover regular wearing out of parts or breakdown as the HVAC ages and parts start to fail.
Contact your insurance provider to ensure your HVAC unit is covered in your home insurance policy. For other HVAC needs, contact Air Assurance of Broken Arrow.
Our goal is to help educate our customers in the Tulsa and Broken Arrow, Oklahoma area about energy and home comfort issues (specific to HVAC systems). For more information about HVAC and home insurance and other HVAC topics, call us at 918-217-8273.