Water damage is one of the most common and costly risks homeowners face. For retirees, a single incident—like a basement backup or overflowing drain—can cost thousands in cleanup and repairs. Many assume their homeowners insurance automatically covers these situations. Unfortunately, standard policies often exclude water backup damage unless special endorsements are added. Knowing the limits of coverage can prevent painful surprises. Here’s what retirees should understand before trusting their policy to handle a messy water backup.
