water damage insurance

Water damage insurance is a type of insurance plan that specifically covers damage caused to a piece of property from water. In many areas, flood insurance is not included in a traditional policy because the area may have a high flood risk. In these situations, purchasing specific water damage insurance may be necessary to protect the household structure as well as the belongings within that space. Most of these policies do have various stipulations on what is covered within the plan, including what causes the water damage to occur. This type of insurance policy may be taken out for a business or a house.

Fast Facts

- 22 percent of baby boomers in 2006 relied on selling their home for retirement income.
- 69 percent of baby boomers will rely on part time jobs for income in retirement.

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