First-half goals from Gráinne Smith, Bronagh Sheridan and Roisin O’Keeffe helped Cavan to lead by 3-4 to 1-5 at half-time, as Stephanie Power hit Waterford’s first-half goal.
Cavan’s fourth goal, midway through the second half, killed the tie as a contest as the Breffni County surged 4-11 to 1-10 clear.
Scorers for Cavan: B Sheridan 1-2, G Smith 1-2, A Doonan 0-5 (1f), R O’Keeffe 1-1, B Boylan 1-0, R Crowe 0-1, A Cornyn 0-1, P.C. McCabe 0-1.
Scorers for Waterford: M Ryan 0-6 (4f), S Power 1-0, S Ryan 0-2, G Kenneally 0-1, M McGrath 0-1.
CAVAN: K Baxter; C Reilly, C Grey, C Kearins; R Murphy, A Cornyn, C Smith; R Crowe, C Murtagh; P Crowe-McCabe, R O’Keeffe, G Smith; B Boylan, B Sheridan, A Doonan.
Subs: D English for C Smith, C Reilly for Murtagh, S Cassidy for G Smith, O Cusack for Boylan.
WATERFORD: A Jordan; R Tobin, M Foley, L Hogan; G Enright, N Dunphy, M Wall; M McGrath, E Power; G Kenneally, S Power, A McGovern; L Wall, M Ryan, S Ryan.
Subs: A Wall for Power, T Fitzgerald for Enright.
Referee: P Kehoe (Carlow).