Understanding the Damage Brought on by Water Leaks
Many home losses experienced by business owners involve water damage brought on by leaky pipes. Water can be very destructive whether it seeps out of a loose fitting or gushes from a ruptured main. Fortunately, many types of water leaks are covered by a commercial property coverage. What is Covered Most commercial real estate policies cover damage to insured property caused by any danger that isn't specifically excluded. While land policies contain a broad water exception, the exception applies mainly to flooding and related perils such as surface water, waves, mudflow, along with the overflow of a body of water. It makes no reference of leaky pipes. 1. Water Damage From Unexpected Occasions Property damage caused by water leaking from a broken pipe or appliance (such as a water heater) is generally covered under a property policy in the event the damage happens suddenly. By way of example, suppose that a supply line into a water fountain in your workplace suddenly ruptures