Home Insurance Companies That Cover Asbestos Siding
The homeowners policy will exclude any clean up removal or illness related to asbestos until the end of time.
Home insurance companies that cover asbestos siding. Unfortunately some insurance companies will not insure a home with asbestos siding so it may increase the difficulty and cost of acquiring homeowner s insurance. Asbestos is in most homes built before the 1980s and cleaning it up is very expensive since it requires a lot of specialized equipment and training. Most insurance companies are not obligated to make the siding of your home match the rest of it especially if the siding doesn t match because of lack of maintenance. It will then not pose a health hazard.
Our agency is located in the u s. Have an asbestos abatement contractor do it for you. Homeowners insurance and as far as i know any property policy in the united states as a specific asbestos exclusion in the policy. But the epa notes that asbestos only poses safety issues when it s disturbed and harmful fibers are released into the air.
For an insurance recommendation i d say safeco or usaa. I ve done a little research to see if insurance companies will cover homes with asbestos and i ve found mixed reviews. I am about to purchase a home and the inspection revealed it has asbestos siding. Recently we got a notice from our insurance saying that our house may have asbestos siding and we need to get it tested even though the purchase agreement said it was masonite.
Make sure asbestos is encapsulated such as sealed with paint. Unless you cut into it and it becomes friable you shouldn t need to worry about it. Covering asbestos removal would likely require insurance companies to substantially increase homeowners insurance rates. If you have asbestos in your home i highly recommend you call in a profession asbestos removal team.
Since asbestos siding was a common building. He expects other companies will follow allstate s lead in dropping their customers as well making coverage difficult for homeowner s in the lake. If you re renovating or remodeling an older home call the professionals for an inspection. As a matter of fact about 20 percent of all homes in the area likely have asbestos siding or other asbestos containing products says local insurance broker stephen lyons of lyons insurance.
Basically if you ve had the same siding for 15 years and it s lost its color and has rotted and only one part of your home is damaged they ll put in new siding there. It s in excellent condition but i have heard certain insurance companies may not insure a house with asbestos siding. I haven t heard of an insurance company denying coverage because a home has asbestos siding. Northeast where there are numerous homes that still have asbestos siding.
Homeowners insurance on a house with asbestos siding. I just bought an older house with asbestos siding and have run into some insurance issues.
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