Water-damage insurance for homes over 40 scarcer

Deerfield-based People's Trust Insurance cites rise in non-weather claims for water damage

TRD MIAMI /
Apr.April 30, 2016 12:00 PM

A property insurer based in Deerfield Beach joined others around Florida that exclude water damage from coverage of homes over 40 years old.

Deerfield Beach-based People’s Trust Insurance instead offers optional limited coverage up to $10,000 of water damage to homes over 40.

The insurer said the limitation on coverage was necessitated by steep rises in weather-unrelated claims and losses.

The change became effective on April 15 for new customers of People’s Trust Insurance and takes effect June 15 for customers renewing policies.

Attorneys told the Sun-Sentinel that insurance companies will leave policyholders without the wherewithal to fix costly water damage to their homes.

Attorneys who represent policyholders also told the newspaper that a breach of a major drainage pipe can result in tens of thousands of dollars of interior damage to a home.

People’s Trust is the newest member of a group of Florida insurers that exclude water damage from coverage of homes over 40. The others include Federated National, Heritage, Tower Hill, Southern Oak and United Property & Casualty. [Sun-Sentinel]  — Mike Seemuth


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