Should I get the problem fixed, or report to my home insurance company to get fixed?

I’m always really confused by what my home insurance covers and what it doesn’t, and I don’t want to report something that will cause my rates to increase.

The problem: While my husband was in the shower (on the 2nd floor) I heard dripping coming from the basement. Upon further exploration, I saw that there was a drip – I assume from the pipe, but I couldn’t see exactly where. I have no idea how long this has been going on because when one of us is in the shower, the other is usually not in the basement.

I know we’ll have to tear out the wall/floor/ceiling to get to the pipe. Is this something I would report to my home insurance to get fixed, or do I just fix this myself?

The only thing I see on the policy that remotely relates to this is $ 5,000 coverage for “water backup and sump pump overflow.”

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