Your home is one of the most valuable assets that you own. Because of this, you need to make sure you take care of it at all times. While some things are fairly obvious to be fixed, others are hidden more underneath of the surface. One of the things that many don’t realize exist until they end up doing a world of damage is that of termites. Termites can destroy the structure of your home quicker than you think. If you are dealing with a termite infestation, you need to start taking action and doing something about them before they cause even more problems.
Finding out that you have termites can be disheartening to say the least. Getting hit with a hefty repair bill can be scary. One minute you are being told you have termites and the next you are being told it could take thousands to get rid of the problem. Many homeowners think that their homeowner’s policy is going to cover the problem and pay for the cost of repairs, but things aren’t as cut and dry as you might think. To help you better understand what you are dealing with and what might possibly be covered, take a look at the information below.
Residual and Collateral Damage
When it comes to collateral and residual damage, this is one of the key areas where you might be able to receive some compensation for the damages. The key is finding out what caused the termites to take over your home in the first place. For example, let’s say that the damage to your home was caused by a support beam that was compromised and not the actual termites themselves. If the termites were the sole cause of the problem, the insurance company probably isn’t going to cover the damage. The insurance company will pay for the damage caused, but they aren’t going to pay for the original support beam that had the termite infestation. This is why it is so touchy to try to get to the root of the problem and figure out whether something is covered or not.
Damage in General
Termite damage as a whole isn’t normally covered by your homeowner’s insurance policy. The main reason for this is because insurance companies believe that termite damage can be prevented by properly maintaining your home and inspecting it on a regular basis. They believe that the whole reason termites creep in to begin with it because you didn’t do your due diligence to take care of the problem and prevent the termites from taking over in the first place. Spend some time going through your insurance policy to see what the specifics are. On average, the rule of thumb is that your policy isn’t going to cover damages from these pesky termites.
Add a Termite Bond or Rider
If you know for sure your policy doesn’t offer termite coverage, you might want to ask about purchasing a termite rider to make sure you are covered in the event of a loss. This special insurance makes sure you aren’t stuck having to pay a lot of money out of your own pocket in the event a loss occurs. A pest control company will come in and inspect your properly on a regular basis. In the event an infestation occurs, they will pay to fix the problem.
While your homeowner’s insurance policy might not cover all of the damage from termites, there are things that you can do to make sure you are taken care of and your property is protected. By being proactive, you can save yourself a lot of money and hassles along the way.