Elevator wire ropes are a complex structure of core, wire, and strands. They require cleaning and proper tensioning to achieve full life. When life has been exceeded the ropes often exhibit “rouge” which is technically fretting corrosion. If this is the reason the rope needs to be replaced, it is likely covered under the elevator service contract. On the other hand, if the ropes have somehow been exposed to water and are truly rusting, it would be the building owner or the insurer responsible for whatever caused the flooding who would pay. We are often told that water damage was the problem when, in fact, it’s the ropes reaching end-of-life (you can imagine why an elevator contractor might wish to exclude themselves from coverage of this expensive component).
Refer to the photos below. The one on the right is true corrosion caused by water exposure. The one on the left is rouge – ropes reaching the end of life. In the case of true water damage, the rust tends to be even, whereas in rouge the red rust is emanating from within the rope core itself.