Will Homeowners Insurance Cover A Leaking Basement? 
Once rain water hits the ground it is considered to be the peril `` flood '' . If the water finds its way into the basement that is considered `` seepage '' and is excluded under most homeowners insurance policies . Some companies will consider coverage under the `` water back-up of sewers and drains '' coverage however that is pushing the limits . It will come down to the company and adjuster to decide coverage . 