The following information is from one of our partner carriers, The Hanover Insurance Group.
Chances are you have multiple “service lines” running underground on your property: pipes and wires that connect your home to your energy company, cable provider, or municipality. You probably don’t spend much time thinking about them – after all, you can’t even see them. But out of sight should not mean out of mind.
Many homeowners are surprised to learn that the repair or replacement of service lines on their property is their responsibility, not the service provider’s. Damage to these lines often occurs unexpectedly – for instance a water pipe freezing, an electrical surge from a lightning strike, or tree roots invading and interrupting a cable line. Incidents such as these are becoming more common – one study shows that the frequency of sewer backups increases about three percent each year.
The average service line repair runs roughly $3,000-4,000 – but can go much higher. Plus, these expenses aren’t always covered in basic homeowners insurance. That’s why it’s important to protect against these surprise costs by adding service line coverage to your homeowners insurance policy.
Service line coverage may be available through the city in which you live. The alternative is to purchase this coverage as an endorsement to your homeowners policy. One benefit to purchasing the coverage through your insurance carrier is the cost; we’ve found the homeowners insurance endorsement can be half the price (roughly $20-40 per year)!
Service line coverage is affordable, versatile, and powerful coverage against unexpected expenses related to:
Your insurance carrier may offer options that provide repairs to service lines, excavation costs, loss of use, and landscaping expenses. Contact us today to learn more about this valuable coverage.