2. AmEx isnât for everyone. All of their cards require excellent credit and they donât do balance transfer deals, making them less attractive to anyone who carries a balance. But if youâre after cash back and travel perks, consider one (or a couple, like I currently have). 1  Best for travel benefits.
3. Broken pipes. A standard homeowners insurance policy provides coverage for damage resulting from sudden breaks of pipes and leaks inside the home. But the water damage must be the result of a sudden break or leak. Water damage as a result of poor maintenance is considered neglect and isn't covered under a standard policy. Keep in mind, however, that breaks to outside water and sewer pipes are not covered.
Repairing water damage can be very expensive depending on the location and extent of the damage. Costly damage occurs when water comes in contact with wood, sheetrock, fabrics, or other biodegradable material like paper or cardboard. Left untreated these develop mold, causing other health and safety issues. The most important aspect of repairing water damage in your home is to catch it as early as possible.