Should Home Insurance Include Land Value
No. When you purchase home insurance you may get coverage for its rebuilding cost only and it does not include the lands value. If your home is damaged you may claim for rebuilding it on the same land or a different location. Your home rebuilding cost is not the same as the market value, purchase price of your home or land cost.
What Home Insurance Doesnt Cover
Most home insurances would have a list of exclusions that may be listed in your policy document. If you rent out, sublet or share your primary residence then such seasonal, full-time or temporary rentals may be excluded. When you conduct a business or store business merchandise in your home then you may have to ensure that it is not excluded. During the period that your home remains vacant , any burst pipes or such damages may not be covered if you did not notify your insurance company.
Your lawn and the property of those who live with you but are not your relatives may not be covered. The only exception to this could be if you had declared them as legal dependents. It is vital to know that home insurances in Canada do not cover property taxes, condo fees, land, and mortgage payments.
What Should Be Done About Asbestos In The Home
- If you think asbestos may be in your home, don’t panic! Usually the best thing is to leave asbestos material that is in good condition alone.
- Generally, material in good condition will not release asbestos fibers. THERE IS NO DANGER unless fibers are released and inhaled into the lungs.
- Check material regularly if you suspect it may contain asbestos. Don’t touch it, but look for signs of wear or damage such as tears, abrasions, or water damage. Damaged material may release asbestos fibers. This is particularly true if you often disturb it by hitting, rubbing, or handling it, or if it is exposed to extreme vibration or air flow.
- Sometimes, the best way to deal with slightly damaged material is to limit access to the area and not touch or disturb it. Discard damaged or worn asbestos gloves, stove-top pads, or ironing board covers. Check with local health, environmental, or other appropriate officials to find out proper handling and disposal procedures.
- If asbestos material is more than slightly damaged, or if you are going to make changes in your home that might disturb it, repair or removal by a professional is needed. Before you have your house remodeled, find out whether asbestos materials are present.
Does Home Insurance Cover Furnace
Furnaces are considered part of your home contents fixtures and may be covered for a damage or theft. Also, if the furnace is damaged due to an insured risk then that would be covered too. However, your home insurance may not cover furnaces for repair or replacement due to wear and tear damage. Any oil spills from furnaces could cause considerable damage and this would not be covered since it is due to poor care. Furnace steel tanks may be replaced once in 20 years to avoid spills due to damaged tubes and pipes.
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Can Home Insurance Cover Plumbing
If there is a plumbing leak that happens accidentally or suddenly then your home insurance may cover that damage. However, if the plumbing is damaged or leaking over a period of time then it is gradual water damage which is not covered. When there is a plumbing issue then it is the homeowners responsibility to take care of its maintenance to stop further damage. Such damage is preventable and if your home is vacant for more than 4 days then you may have to arrange to drain and stop freezing of plumbing. You may also have to arrange for someone to do a daily check for any signs of plumbing issues.
What Is Asbestos And Why Is It Dangerous
Asbestos is a natural mineral composed of soft, flexible fibers. The fibrous texture combined with the mineral’s durability and resistance to fire made it a popular building material, particularly for insulation. The use of asbestos goes back to ancient times but saw its peak in the United States between the 1930s and 1970s, and traces of it are still commonly found in both houses and commercial properties that were built during that period. Scientists studying the effects of asbestos have published research that exposure to the dust from asbestos over time could lead to cancer, mesothelioma, and other lung diseases. If asbestos is safely sealed away, it poses little threat to you and your family. It’s only if asbestos gets disturbed and particles are released into the air that you’ll need to consider remediation.
Where Would Asbestos Be In My Home
Because most older homes are constructed of similar materials, if you suspect asbestos in your home, take a look around your neighborhood first. Are other homes similar in age to yours known to harbor asbestos? If so, you may want to contact a professional to help assess the problem. Because the risk of contamination is so great, its important that you dont take any action to disturb the material. Cutting into it releases asbestos into the air where it can enter the lungs.
So, what is made of asbestos in homes? The list is long. Heres a sample of common household materials that have been known to contain asbestos:
- Pipe insulation
- Linoleum and vinyl floor tiles
- Drywall in the walls and ceilings
Does Insurance Cover Asbestos Removal
We’re here for you every step of the way.
Asbestos is a naturally occurring mineral mined originally for its heat-resistant properties. After years of using asbestos commercially and industrially, doctors found that asbestos was the cause of several cancers. Today, finding out asbestos is in your home is a scary time for you and your loved ones, leaving you with questions. With stipulations, your homeowners insurance may be able to cover the costs of asbestos removal from your home.
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Can I Remove Asbestos Myself
It could be dangerous to try and remove asbestos yourself. If you come across it while carrying out a DIY project, it is always safer to get advice from an expert.
There are rules around how long a professional can spend when working with asbestos.
It needs to be for less than one hour in a seven-day period by one worker, according to the Health and Safety Executive. This cant exceed two hours spent working on the asbestos by all workers.
Its possible to buy an at-home asbestos testing kit. Several companies make these and prices vary considerably.
The kit lets you take a sample of what you think is asbestos and you can send this back to the company to test.
But these kits generally arent recommended due to the dangers of coming into contact with asbestos if you havent had the right training.
You can find a licensed contractor via the Asbestos Removal Contractors Association website or your local council.
They should carry out asbestos testing to decide if it needs to be removed or not, and will safely remove the asbestos if needed.
For help see our five-step guide to hiring a trusted tradesperson.
Where Can Asbestos Hazards Be Found In The Home
- Some roofing and siding shingles are made of asbestos cement.
- Houses built between 1930 and 1950 may have asbestos as insulation.
- Asbestos may be present in textured paint and in patching compounds used on wall and ceiling joints. Their use was banned in 1977.
- Artificial ashes and embers sold for use in gas-fired fireplaces may contain asbestos.
- Older products such as stove-top pads may have some asbestos compounds.
- Walls and floors around woodburning stoves may be protected with asbestos paper, millboard, or cement sheets.
- Asbestos is found in some vinyl floor tiles and the backing on vinyl sheet flooring and adhesives.
- Hot water and steam pipes in older houses may be coated with an asbestos material or covered with an asbestos blanket or tape.
- Oil and coal furnaces and door gaskets may have asbestos insulation.
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What Are The Dangers Of Asbestos Inside The Home
Home renovations are popular for many home buyers. Its a dream to take a dilapidated home and upgrade it with all the modern finishes. However, theres a risk associated with house flips and upgrades. Asbestos is a common issue among older homes, and as a homeowner, you could be exposing yourself and others to toxic asbestos fibers.
Asbestos is a natural mineral made of thin fibers. It has been used for fireproofing and insulating building materials since the 1800s and is still in use today.
Once a construction material composed of asbestos is broken down or damaged, the asbestos fibers become airborne. The asbestos fibers travel into our airways and can cause scarring and inflammation.
By inhaling asbestos dust from different materials, you are at risk for a specific asbestos-related disease called mesothelioma. Mesothelioma is a type of lung cancer that forms tumors on vital organs in the body, such as the linings of the lungs, heart, or abdomen. Other extreme health risks, like lung disease, are linked to asbestos exposure. Unfortunately, in most cases, any asbestos-related illness can go undiagnosed for at least 15 years after reaching exposure.
If You Hire A Professional Asbestos Inspector
- Make sure that the inspection will include a complete visual examination and the careful collection and lab analysis of samples. If asbestos is present, the inspector should provide a written evaluation describing its location and extent of damage, and give recommendations for correction or prevention.
- Make sure an inspecting firm makes frequent site visits if it is hired to assure that a contractor follows proper procedures and requirements. The inspector may recommend and perform checks after the correction to assure the area has been properly cleaned.
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Where Might I Find Asbestos In My Home
If you live in an older property, theres quite a few places you might find asbestos. These include:
- Artex ceilings you might remember those textured ceilings that were popular back in the seventies and eighties
- thermal insulation on pipes and hot-water tanks
- loose-fill roof insulation
- in the toilet seat or cistern
- vinyl floor tiles
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How Do I Remove Asbestos
In almost all situations, you should hire a professional to remove any asbestos you find in your home. The EPA has issued warnings against dusting, sweeping, or even touching anything you suspect is asbestos. Once asbestos is disturbed it can end up in the air and be inhaled by your or family members.
A professional will completely seal off the area, wear a hazardous materials suit when dealing with the asbestos and make sure it removed properly and safely. They will also dispose of the asbestos in the required manner.
While asbestos mitigation can be expensive, it can literally be a lifesaver for you and your family.
Questions About Asbestos Insurance
There is no universal asbestos coverage in standard homeowners insurance. To know whether or not your policy covers asbestos removal, you will need to review it yourself and talk with your agent. The standard homeowners policy may mention asbestos, but whats considered pollution isnt usually covered for removal. Asbestos is often excluded from the list of covered perils, which are the types of disasters that trigger payouts for damage. Insurance companies usually dont cover the costs of removing pollutants, including asbestos. Its best to find out directly from your agent if a removal project can be covered.
If you decide on asbestos removal, it may mean paying extra for different types of remediation such as special handling, removing debris, and potential testing. While the average cost of removing asbestos is about $1,500, you need to research what the prices are in your geographic location. In some places, it may cost over $2,000. Despite the cost, it is always safest to let a professional handle the removal to avoid potential health risks. Whenever you look to buy a new property, you should request an asbestos inspection before making an offer if you want an eco-friendly home.
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How Can I Confirm That My Mitigation Company Is Licensed To Perform Asbestos Abatement
If your mitigation company is properly licensed to perform Asbestos Abatement, they will have an Asbestos Abatement License Number provided by The State of Pennsylvania and a certificate that they should be happy to provide you a copy of. Additionally, The State of Pennsylvania maintains a list of all Licensed Asbestos Abatement Contractors where you can verify their licensing.
Please note that most Asbestos Abatement Contractors specialize in very large commercial or industrial projects and do not also provide Mitigation Services. Disaster Blaster is proud to not only offer unmatched Mitigation and Restoration Services, but to also be properly licensed and qualified to provide Asbestos Abatement Services.
We hope this answered your questions! If you have additional questions or concerns, please dont hesitate to Contact Us!
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Asbestos Exposure & Associated Health Risks
Asbestos is an affordable, durable and fire-resistant mineral. In the past, manufacturers added it to many products. Companies often used it in construction materials, such as attic insulation and cement. Home repair activities may disturb asbestos, putting homeowners at risk of exposure.
Asbestos is fibrous, making it easy to inhale or swallow. The dust can also settle on clothing and other surfaces. Victims of asbestos exposure may later develop diseases, such as mesothelioma. It can take years for people with these diseases to present symptoms.
Common Asbestos-Related Health Conditions
Asbestos Do’s And Don’ts For The Homeowner
- Do keep activities to a minimum in any areas having damaged material that may contain asbestos.
- Do take every precaution to avoid damaging asbestos material.
- Do have removal and major repair done by people trained and qualified in handling asbestos. It is highly recommended that sampling and minor repair also be done by asbestos professionals.
- Don’t dust, sweep, or vacuum debris that may contain asbestos.
- Don’t saw, sand, scrape, or drill holes in asbestos materials.
- Don’t use abrasive pads or brushes on power strippers to strip wax from asbestos flooring. Never use a power stripper on a dry floor.
- Don’t sand or try to level asbestos flooring or its backing. When asbestos flooring needs replacing, install new floorcovering over it, if possible.
- Don’t track material that could contain asbestos through the house. If you cannot avoid walking through the area, have it cleaned with a wet mop. If the material is from a damaged area, or if a large area must be cleaned, call an asbestos professional.
For more information, contact your local American Lung Association at their website at www.lungusa.org for copies of:
- Indoor Air Pollution Fact Sheet – Asbestos
- Air Pollution In Your Home?
- Other publications on indoor pollution
Where Will I Find Asbestos
Older homes may have asbestos present in several different places. Here are some common places to check for asbestos:
- Boiler, steam pipe, or furnace: asbestos blanket or tape
- Floor tiles: backing or adhesive
- Door gaskets on stoves
- Wall and ceiling decorative sprays, including textured paints
- Insulation in homes built between 1930 and 1950
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Is Asbestos Removal Covered By Home Insurance
Homeowners insurance typically wonât cover asbestos removal or abatement if particle exposure wasnât caused by a covered loss. Most standard policies exclude coverage for pollutants, including asbestos, which releases harmful fibers into the air when disturbed.
If asbestos fibers are released into your home as a result of a covered loss, your insurance company may pay for asbestos removal and remediation as part of the homeâs repairs. But if you need asbestos removed as part of a home renovation or remodeling project, youâll need to cover the costs yourself. Those costs typically cover the special handling of asbestos, the removal of debris, and possible testing.
You can contact your home insurer directly or refer to your policy documents for information about your coverage and exclusions in your policy.
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