let's talk about insurance against water damage
So it's about time for me to renew my homeowner's insurance for another year and I'm thinking about protection against water damage. I guess there are three kinds of events I can think of:
1. flood, or surface water flood: I don't live in a flood zone, but my neighbors have a depression in their backyard which is a village instituted requirement for a storm sewer overflow. I'm thinking I want to be protected against something like this. I have no idea how to value a policy against the kind of damage that I can have.
2. sump pump backup: the insurance company offers a rider for $10k worth of coverage against this event
3. water damage from spills/leaks: I guess I worry about some plumbing link between the floors or something like an appliance malfunction that might go undetected for some time.
I don't know enough to even have an intelligent conversation about where to begin? Anyone have pointers to good sources of info.
I'm also welcome to advice from folks with experiences, good or bad, with dealing with these types of situations. FWIW, I have a sump pump and a sewer sump pump in a basement that is, and will remain for sometime, unfinished.