Hey guys, Jason here with 303 Insurance Brokers, and I wanted to give you an awesome insurance tip of the day. Whenever I write a new homeowner’s policy, I always include one specific endorsement called the service line. I am just amazed by how many people still don’t know what service line coverage.
What is Service Line Coverage
How it works and why it’s beneficial to you. So service line coverage is an added coverage, an endorsement that we can add onto your homeowner’s policy. That’s going to cover any of the breakages of the service lines between your home that is buried through your yard, out to the street where it goes off to the city or the county or the utility commission where they take over.
The Most Important Coverage
The biggest thing that the service line typically covers is going to be your sewer line. So if you have a crack or breakage in your sewer line and it’s on your property, it is your responsibility.
How Much Does It Cost?
About three years ago, insurance companies started giving an endorsement for service line coverage. It’s anywhere from depending on the case. But $10 to $20,000 worth of repair work typically it’s a $500 deductible. So it’s a lower deductible than your traditional deductible. Typically it costs anywhere from $30 to $100 a year, depending on the carrier. But it is absolutely incredible to carry that service line coverage.
Why You Need Service Line Coverage
I’ve got a personal testimonial about it when I was buying my house seven years ago. We ran a sewer scope. We went down our service line to make sure that there were no cracks or breaks as we were taking over and buying this property, and we did discover that there was a crack in the sewer pipe, right where it connects with the city.
It was clearly our responsibility or the current homeowner’s responsibility. Although we ultimately had many thousands of dollars of things that we needed to be repaired and fixed as a part of our contract with the homeowners, we pulled everything else off the table, except for the service line. That was our one walkaway moment from that house, purchasing a house that has a damaged service line.
So the house sellers that sold us the house had to spend $6,000 of their own money. To replace that service line issue, lo and behold, fast forward. We can now cover that through insurance. So go look at your home insurance policy, look for something called service line, buried utility line, or something along those lines, or shoot your home policy over to me. I’ll see if you have it.
It’s a great addition to any home policy. Feel free to reach out to me, Jason@my303insurance.com or 3035062755, and if you’re one of my clients, you’ve got this coverage on your home. I guarantee it. Jason, have a great day. Bye.
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