When it comes to preventing water damage and flooding, a new sump pump is one of the most essential home improvement investments. If you’re planning to install a new system, you might be wondering how much it will cost.
The cost of a new sump pump depends on the type you choose. There are two major types: pedestal and submersible.
Cost of the Pump
Water damage can cost you thousands of dollars, and a new sump pump is an investment that protects your home from future issues. That’s why it’s important to install one that’s right for your needs and budget.
The cost of a new sump pump depends on several factors, including the model you choose and how much labor is required to install it. Pedestal sump pumps typically run $60 to $170, while submersible models are estimated to be around $100 to $400.
Another factor that impacts the pump’s price is its power level, or horsepower. Higher-end pumps can have up to 500 horsepower, while lower-priced options may only need 100 HP.
Depending on your situation, you might also consider purchasing a battery-powered sump pump. They provide a backup pump in case you lose power, which can save your system from severe flooding and help you avoid expensive repairs.
Cost of Installation
If your basement floods often, it may be time to invest in a new sump pump. This is a relatively inexpensive service and will help you avoid costly repairs down the road.
The cost of a new sump pump varies depending on several factors, including your location and the type of floor. If you have a concrete floor, for instance, it can be much more expensive to install a sump pump than if your basement has a dirt floor.
One of the biggest expenses is labor, which can vary greatly from job to job. Typically, plumbers charge $45 to $80 per hour for the job, depending on many variables.
Cost of Insurance
Sump pumps are a must have for any home. They help prevent flooding and water damage in the event of a severe rainstorm or flood.
When it comes to the cost of a new sump pump, there are many factors to consider. The type of pump, power source, and location of the pump will all impact its price tag.
Whether you need to hire a plumber to install the pump or need a home warranty, the best way to find the most affordable option is to compare prices from different companies.
A good choice in Brooklyn is Liberty Home Guard, which offers 3 plans with differing levels of system and appliance coverage. They have a service fee of $85, and the coverage caps come out to about $3,000 per covered appliance or system. The company also has a contract that’s easy to understand. The icing on the cake is their customer service team and network of professional repair technicians.
Cost of Flood Insurance
A new sump pump can be a very expensive investment, so many homeowners choose to buy flood insurance for it to protect themselves in the event of flooding. It costs about $775 per year, but can help cover any damages caused by flooding.
Insurers will pay out a certain amount of money to repair and rebuild your home after a flood, up to the policy limit. NFIP policies have limits of $250,000 for building coverage and $100,000 for contents coverage.
Some private insurers offer additional coverage for homes in high-risk flood zones. These “excess” flood policies provide additional coverage that the NFIP policy maximums cannot fully meet.
Costs of flood insurance depend on your property’s location, its age and design, your chosen deductible and whether you live in a flood-prone area. In October 2021, FEMA introduced Risk Rating 2.0, which considers the risks of individual properties and varies rates based on the specifics of your home.
