Graduated Learning: Life after College

I got my degree, I got a job…now what?

Adventures of home ownership: a flooded basement and dealing with insurance September 8, 2019

Filed under: Personal Finance — Stephanie @ 8:40 pm

Back in April, I woke up to hear what sounded like water running. Since I was still half asleep, it didn’t really occur to me what it was. My husband had gone out for a morning run and I must have rationalized he was back and showering or something.

All of a sudden, I heard him from the basement yelling for help (and lots of cursing). Our heater had sprung a leak, and water was gushing out! The basement utilities room had water everywhere and was starting to seep our into the rest of the basement. Luckily my husband ran to turn off the water to the whole house, which stopped the flow of water.

An emergency visit from our local HVAC company resolved the source of the leak (replaced the broken parts, tested the system). But the carpeted floors were SOAKED and our attempts to use a wet/dry vac and dehumidifier to deal with it was not enough. We suspected we would need to get our homeowners insurance involved. Between hiring professionals to do a thorough cleanup of the water and associated damage, and replacing ruined carpets (and possible walls), we were thinking the overall cost to get everything fixed would be enough to merit going through insurance. We knew we’d be on the hook for the deductible (in our case, $1,000) and it was possible our insurance company could raise our rates. But if the cost to fix our basement and ensure we wouldn’t end up with a huge mold problem down the line was going to be a lot more than the $1k + potential rate increase, it made sense to us to go through insurance.

So we did. We opened a claim with our insurance company. We spoke first with a desk adjuster who said we could go ahead and start getting the clean up company involved. She said a field adjuster would be in touch soon to schedule a visit to evaluated the damage and estimate what would need to be replaced/repaired.

The cleanup folks came by for a few days, vacuumed up as much water as possible, and set up fans and dehumidifiers. I don’t know how great a job these fans and dehumidifiers were doing, as it still seemed damp. They ripped up the carpet in the utility room. They cut away about a foot of the wall all along where the water had gone.

During the “clean up” step, the field adjuster came out and evaluated the damage. He agreed that the carpet should be replaced, and that section of wall removed and fixed up. Luckily he even reported the entire basement carpet be replaced, just in case (plus then we wouldn’t have two different carpets). He sent in his report. But then things stalled out for awhile.

There was a disconnect between what he sent in and what the other parts of the company said. It sounded like only part of his report got sent in. And when we got the contractors out to give us an estimate of what would need to be fixed, the insurance balked at the plans and total cost. We had to have the field adjuster come out again and meet with the contractors at the same time to hash out what insurance would cover.

Finally, everyone came to an agreement on what would be covered by the insurance…AT THE END OF JULY! Yeah, this process didn’t move too quickly.

Within a week of the approvals, the contractors came over and started the necessary repairs and painting, and removing the rest of the old carpet. But then it was a few more weeks before the replacement carpet arrived and they were able to put it all down. But finally, at the end of this past week, everything was DONE.

So, an incident in April, approval end of July, final repairs beginning of September. Not the quickest timeline, but luckily it all looks good.

As we feared, our homeowners insurance premium did go up, but overall the financial hit would have been much higher if we had tried doing it all without going through the insurance.

We now have plans to fully replace the furnace, since it’s probably as old as the house, and we wouldn’t want another leak ruining everything again! We have an appointment to talk options with an HVAC company this week. Here comes more spending! I guess this is what happens when you buy a house: the spending never really ends.

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