Homeowners insurance protects your most valuable asset in emergency situations. The policy generally covers any interior and exterior damage to your home. However, there are some potential exclusions. In most cases, asbestos is a common exclusion unless the pollutant spreads due to a covered loss. Here’s a closer look at how asbestos impacts homeowners insurance coverage.
Asbestos consist of soft fibers. The mineral was a prevalent in many homes during the 1950s and 60s. The mineral was appealing to homeowners because it’s durable and anti-flammable. Asbestos, in particular, provides excellent insulation. However, scientists have recently discovered that asbestos has harmful long-term effects. Research shows that long-term exposure to asbestos may cause cancer, lung disease, and other serious ailments. Seal asbestos is more important so it won’t cause long-term damage.
When Does Home Insurance Take Over?
As previously noted, home insurance generally does not cover asbestos exposure. The only exception is if a covered peril exposes asbestos. Perhaps you were exposed to asbestos due to a natural disaster or someone vandalizing your home. In this case, home insurance coverage would assist with the remediation costs.
Removing Asbestos
Avoid trying to remove the asbestos yourself. Removing asbestos on your own is a hazard, and you would be exposing yourself to potentially serious health issues. You should hire a licensed technician to remove the asbestos. Licensed asbestos technicians understand the essential safety strategies while interacting with asbestos. They’ll use the necessary tools to remove the hazardous material safely.
Signs of Asbestos Around the Home
Your home almost certainly contains asbestos if it was built during the 1960s and 70s. Asbestos was essential material in so many of those homes. Asbestos is also versatile. Carpenters used the material to add insulation to different walls around homes. It also helps as exterior siding. Asbestos was installed in attics and roofing, ceiling, vinyl floor tiles and around pipes. Different paints also contain asbestos. Carpenters noted that asbestos helped insulate stoves, fireplaces, and boilers.
Locating asbestos may require thorough testing. However, an inspection isn’t necessary if the asbestos isn’t exposed. You may still opt to have the asbestos removed if you are concerned about potential exposure in the future. You must assess your financial situation before making a decision. Remember that asbestos removal costs are unlikely to be covered through homeowners insurance coverage, so you’ll be responsible for all of the associated costs.
Things to Consider
If you enjoy completing projects around your home, take a minute to assess the potential consequences of removing the interior. There’s a possibility that tearing down tile and walls causes asbestos exposure. If you believe that your asbestos is present, set up an inspection before moving forward with your project.
Consult with 01 Insurance!
Asbestos removal is generally excluded from home insurance policies. However, there are a few cases when the policy will cover remediation costs. Contact the team here at 01 Insurance if you have any questions regarding home insurance. Our team will help you get the home insurance coverage plans to fulfill your required needs.