Ken's Quick Answer:
"With most LVP/LVT (luxury vinyl plank) products, it's true water won't harm the product. But there's more to consider here, including the possible presence of mold."
Ken's In-Depth Answer:
"Today, I want to talk to you about one of the great myths of the floor covering industry. The myth is waterproof flooring.
Let's say you have waterproof flooring, which is otherwise known as luxury vinyl plank, installed in your basement. If your water heater floods or you have water coming through your walls, that water is gonna go right underneath that plank.
It's true, nothing will happen to the plank. It will still stay together and won't harm the product! But the water is just going to sit underneath and maybe grow black mold until you find a way to get rid of it.
Most of the time, you wind up rolling back the floor, unlocking the planks, drying up the floor, and re-installing it again. That's not an inexpensive prospect.
Don't get me wrong, there are many advantages to the new luxury vinyl plank. It looks better, it's easier to maintain, it's softer, it's quieter, and it's warmer than ceramic tile. But even though the product itself is waterproof, if you have a flood, you're still gonna have a water problem. So call your insurance company when it happens.