Solved! Does Homeowners Insurance Cover Termite Damage?
Table of Content
Termite damage can be severe and can even cause structural damage to your home. Our insurance team is composed of agents, data analysts, and customers like you. The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters.
For a transferable agreement, the pest control company will honor the same coverage if you happen to transfer to a new home. So why is termite damage not covered by homeowner’s insurance? Termites, like bed bugs and rodents, are categorized as pests.
termite bond?
As soon as possible, employ an exterminator or other pest control specialist to eliminate the termites, eradicate the termite colony and stop further damage. Home insurance carriers expect their policyholders to be responsible, conscientious homeowners, making regular property inspections and keeping up with routine maintenance. Termite protection plan costs are fairly affordable , and annual inspections average between $50 to $280. Homeowners who are unfamiliar with termites can benefit from having an inspection and allowing a pro to show them all the places that might show evidence of these wood-eaters.
Usually, homeowners must pay a pest control service to remove the termites and then a contractor to fix the damage the termites did to the home. If your homeowners insurance policy doesn't cover the termite damage, there are two major ways to lower the cost of removing the pests. Termites can cause extensive damage to your home, often going unnoticed for extended periods of time. Understand the warning signs early on and take preventative measures to keep your house safe, especially when it comes to moisture in and around your home. These simple steps can save you thousands of dollars or more in termite damage repair costs. Termites’ gut bacteria and enzymes aid them in the digestion and processing of wood .
Tips for dealing with termites in the home
Termite damage can be hard to spot and by the time you see evidence of termite activity, significant damage may already be done. If a covered risk or peril causes the termite infestation, then you may be covered. The termites were hidden and caused the damage without any reasonable prior knowledge. If you knew of the infestation and didn't stop it, then you likely won't be covered.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market. Termites are a threat to the buildings in Australia, especially in certain parts. Most building codes do come with pest control certification as part of the construction. According to data gathered and analysed, your property can devalue as much as 25% if there is a history of a termite infestation.
Hazards & Coverage
This part clarifies if the pest control company will treat the area or provide damage repairs as well. Moreover, the pest control company will decide if your home qualifies for the repair bond or not. Fret not, because you still have options to protect your home financially against termite damage. There are some scenarios when termite damage could be covered in your insurance policy.
We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines. We've researched and rated dozens of policies as part of our Finder Awards. We provide unique insights and our in-house experts regularly appear on Sunrise, 7News and SBS News. Regularly inspect the foundations of the building and look for signs of mud tubes, uneven or bubbling paint and wood that sounds hollow when tapped. Termites are more common in a warm and humid climate, but they can be found in other climates as well.
As a former claims handler and fraud investigator, he’s seen a lot, and enjoys helping others navigate the complexities and opaqueness of insurance. In Criminal Justice from Kutztown University and an M.F.A. in Creative Writing from the University of California Riverside, Palm Desert. Termites burrowing into wood can cause ceilings and walls to buckle and sag. Termites can cause cracks in beams, and small holes in wood and walls. It’s unlikely termites will ever anchor a movie franchise like a Tyrannosaurus rex does. Compare rates from dozens of companies in less than 3 minutes.
Start looking for tunnels in areas termites like such as the home foundation or exposed wood. The most common lactation is the home foundation as they penetrate from the ground. Termite tunnels have a cube-like entrance that resembles mud.
The National Pest Management Association estimates that termites cause over $5B of property damage each year in the United States. Termites can crew through cabinets, flooring, furniture, ceilings, plaster, and metal. Termites are animals that live in the home and can survive for years without being noticed.
The next step is to have a contractor evaluate the damage inside the home. Consider getting several opinions about the repairs that need to be made and what it will cost. Any licensed contractor should be able to address a termite infestation and recommend repairs.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers. Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first.
Outsmart Life with AAA Insurance
While homeowners insurance does not typically cover termite damage, you may be able to take steps to repair termite damage that has occurred to your home. As you find damaged wood, you generally have a couple of options to fix it. This provides more structural support than the damaged wood alone could provide and generally costs less than replacing an entire piece of wood. Even the best homeowners insurance companies don't sell termite insurance policies. That's why it's important for homeowners to stay vigilant and take the steps listed below to prevent termite damage. If they notice any signs of termites in their homes, they should take immediate action to exterminate them and begin repairs.
Moreover, they won’t compensate you for termite damage to your personal property . Unfortunately, the answer to that is most likely no, homeowners insurance will not cover termite damage. It’s also important to remember to treat any damaged wood for termites before you start repairs. Otherwise, you may still end up with termite issues after the repairs are complete. Either option, along with adding or replacing damaged wood, should help to prevent further termite damage to your home.
Comments
Post a Comment