So my wife and I bought a house in December of 2007. Previous owners check "No" to the question "Has there ever been water in the basement?" Well, our very first spring last year, low and behold we found our basement wall had a crack and ended up having to gut and remodel our basement bathroom due to mold growth on the drywall. (Kinda wondered why there was calk around the bottom edges of the floor board...) Just finished that project (turned out awesome by the way), and last night my sump pump gave up the fight and the rest of my basement flooded!
Worst part is that my insurance wont cover it, because aparently there is a little adendum to my water coverage stating sump pump failure is not covered unless an extra premium is paid... SOB. I guess at least the basement will EVENTUALLY be newly remodeled and nice enough to match my new bathroom one day! Sucks that mods are gonna have wait on the Stang now. 
Worst part is that my insurance wont cover it, because aparently there is a little adendum to my water coverage stating sump pump failure is not covered unless an extra premium is paid... SOB. I guess at least the basement will EVENTUALLY be newly remodeled and nice enough to match my new bathroom one day! Sucks that mods are gonna have wait on the Stang now.
Any insurance company, life, auto, home...are going to look for loop holes not to pay but I still felt a little better that I was not going to continue to pay the one that screwed me......