An Appleton man is stuck with a $15,000 bill after learning his homeowners insurance won’t cover major flood damage to his basement.
“I would have been happy to have just a little bit of water in here,” Matt Mangin remarks.
It’s not often that someone would prefer to have rain in the basement, but for the 25-year-old homeowner it would have been a much cheaper option.
“Right as I was leaving the room, the wall just fell in and knocked over the hot water heater, and that sprayed water everywhere.”
After torrential rain last week, his basement wall collapsed — raining brick, earth, and water into his home.
“At that point I just went into like a state of shock and thought we have to get everybody out of here.”
Mangin says he immediately called his insurance agent, but the next day he learned his homeowners insurance policy doesn’t cover any of the damage, leaving him with yet another dreaded surprise and a $15,000 bill.
Mangin admits he didn’t know exactly what’s in his policy. “I would assume most people don’t,” he said. “People always think, oh, you have insurance and you figure you are covered.”
By Chris Hrapsky
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This entry was posted on Thursday, July 22nd, 2010 at 5:36 am under Industry News. You can leave a response, or trackback from your own site.