Quote:
Originally Posted by retiredguy123
Homeowner's insurance will cover the HVAC and water heater if they are damaged by one of the perils described in the policy, such as a fire, windstorm, water damage, or theft. But, if these appliances just stop working or wear out, your insurance will not pay to repair or replace them.
|
Kind of correct but not entirely accurate. HO insurance is written on an 'all risk' basis. Everything is covered unless an exclusion to coverage exists.
So, yes, your water heater and HVAC system are covered unless the cause of loss is specifically excluded. Examples:
Fire damage to your house damaging hot water tank and/or HVAC units. Fire is not excluded. Damage as a result of the fire is covered.
Hot water tank and/or HVAC wears out. Wear and tear, mechanical failure are excluded. Replacement of the water tank is not covered by your HO insurance.
If the water tank rusts through, however, still no coverage for the replacement of the tank (wear and tear exclusion) but any ensuing water damage would be covered by insurance.
For wear and tear issues, there are Home Warranty policies out there that cover those types of problems. There are ads for them all the time on the TV.