Your pipes freeze and burst, damaging your home. Do you have coverage? Most homeowners insurance policies, except for the very basic ones, cover damage to the home resulting from broken pipes due to freezing. For example, your insurance company will pay to clean or pay the cost to replace the carpet, furniture and other property that has been damaged due to the water from bursting pipes, less your deductible. For those with renters insurance, damage to your personal property from the water due to the burst pipes would be covered. If the damage is so extensive that you can’t stay in your apartment, your insurance company will pay your additional living expenses as well.