Page 24 - Leisure Living Magazine: Autumn 2020 Edition

Service Lines Coverage In Your Homeowner’s Insurance Policy
By Dan Yanak, Yanak Insurance Group, dan@yanakgroup.com
When was the last time you reviewed your Homeowner’s policy with your Insurance Agent?
Many Homeowners have adequate insurance to cover the repairs related to a damaged Service Line, but no coverage for the repair or replace- ment of the Service Line itself.
Let’s start from the beginning...What is a Ser- vice Line? A Service Line is the line that runs through your property and connects your home to your utilities, such as your water and sewer ser- vice, your power and cable lines, even your sprin- kler pipes are considered a Service Line.
As a Homeowner, you are responsible for any utility line that runs through your property. Should any of those lines incur damage or rup- ture, the expense can be quite costly. Kompareit. com shows the average cost for water main re- placement to be between $2000-$3000 dollars.
Adding a Service Line Endorsement to your Homeowner’s Policy can save you thousands of
dollars in upfront costs. Generally covered is the repair/replacement of the damaged line as well as the excavating and landscape restoration needed to bring your property back to its normal state. For example, $10,000 in coverage, with a $500 deduct- ible can be as low as $26 a year.
Damages to your service lines that are generally covered by the service line endorsement may in- clude: wear and tear to the line itself, rust or de- terioration of the line, mechanical breakdowns, tree or root-caused damage, weight of vehicles, equipment, animals and people, as well as building collapse.
It is important to keep open lines of communi- cation with your Agent. Never hesitate to request a review of your policy and to go over all the option- al coverages available to you; Service Lines is one of many additional layers of coverage that can be built into a Homeowner’s policy. One phone call could save you thousands of dollars.
Give Yanak Insurance Group a call at 419.732.3624 to explore your policy options today!
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