MONDAY, SEPTEMBER 27, 2021
You have probably seen the commercials of a giant termite and his friends eating away at the wood in a home. While the size of the termites on those commercials is exaggerated, the damage isn't. Those little wood-eating bugs can cause a tremendous amount of damage to both your home and your bank account.
Is that damage covered by home insurance? That depends on your policy. The answer is maybe because insurance companies consider termite damage preventable. If your home is significantly damaged because you ignored the signs of termites, then the insurance company says you should pay the damages. But, your homeowners insurance might pay collateral damage. That means that if termites damage a beam of wood in the house and the roof collapses, then your insurance might cover the cost of the roof. But you will need to cover the cost of the beam.
So, how do you know if there are termites eating away at your house? Here are some of the signs:
1. One sign of termites is buckling wood, swollen floors or little mazes in wood furniture.
2. Mud-like dirt piled in corners or in irregular lines along baseboards.
3. Swarms of termites outside or piles of termite wings.
4. Paint on walls that is buckling.
What do you do if you see any of these signs or are just wondering if you have termites? First thing is to call a pest control company and have them inspect your house. If termites are found, that company can tell you the options for getting rid of the termites and repairing the damage.
Second, keep the paperwork. You want to prove to your insurance company that you have been proactive and have gotten rid of the termites. That's just in case there is collateral damage.
Third, talk with an independent insurance agent today and make sure you know what is and isn't covered in your home insurance. Ask your agent for recommendations on who to inspect your home and how often you should have it inspected. Your insurance agent wants to help you protect your bank account from those wood-eating termites just as much as you do.
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