Are you a homeowner and feeling overwhelmed by all the details associated with homeowners insurance? Did you know that even if your home has asbestos, some insurance companies may still provide coverage under certain circumstances?
Don’t fret about understanding homeowners insurance and asbestos. In this post, we’ll give you an overview of the basics of homeowners insurance coverage and asbestos removal.
Asbestos is a fibrous mineral composed of magnesium silicate fibers. Builders used asbestos in many building materials because of its fireproofing properties, but it’s also been banned from use in most countries because of the potential health risks associated with exposure.
When disturbed, microscopic fibers of asbestos can become airborne and enter the lungs, leading to serious health problems such as lung cancer and mesothelioma.
The answer depends on your particular policy. Most policies will not cover the removal of asbestos.
Sometimes, however, certain types of damage caused by asbestos may be covered, such as water damage or structural damage caused by crumbling or falling debris containing asbestos fibers. As always, it’s best to check with your insurance provider before assuming any coverage for asbestos removal.
Will Homeowners Insurance Cover Asbestos Removal Under Some Cases?
Unfortunately, homeowners insurance rarely covers asbestos removal, because most policies exclude coverage for pollutants. However, if the asbestos in your home has been released because of a covered peril, such as a fire, then you’re potentially eligible for coverage.
In order to qualify for coverage from homeowners insurance for asbestos removal, you must be able to prove that an insured event — rather than something that’s excluded from coverage — caused the damage. If your insurer approves the claim, then you can receive funds toward the abatement of this hazardous material.
Are There Alternatives for Paying for Asbestos Removal?
As you’ve learned, asbestos removal covered by homeowners insurance isn’t always possible. If you cannot get coverage from your homeowners insurance policy, there are other options available.
Many state and local governments have programs that provide financial help for homeowners who need help to pay for the cost of asbestos abatement or removal services. Additionally, some companies may offer financing plans or reduced rates for low-income families who need help to pay for their asbestos removal projects.
It’s important to research all available options before committing to any one course of action so that you can ensure you get the best possible deal on your project costs.
If you live on a property pre-dating 1980, then you should stay alert for possible asbestos. As you now know, asbestos is a potentially dangerous material that used to be widely used in construction, although it was banned because of its health risks.
In other cases, asbestos may need to be sealed off and left alone as long as it remains intact.
Can I Remove Asbestos By Myself (and Is It Legal)?
Asbestos is present in over 3,000 materials and products — many of which are used at home or the office. The particles from asbestos can cling to clothing, furniture, and tools, leading to inhalation, which might cause respiratory illnesses. Because of this danger, it’s essential to know that removing asbestos by yourself is not safe.
It’s highly inadvisable to remove asbestos on your own, and it may not even be legal in your region. Although there are currently no specific federal regulations that forbid a homeowner from doing asbestos abatement by themselves, the United States Environmental Protection Agency recommends outsourcing this duty to certified and experienced industry professionals because of the potential health risks associated with working with asbestos.
Your safety comes first, so consider all safety precautions when handling contaminants like asbestos.
As with most home improvement projects related to hazardous materials such as asbestos, it’s always best practice to consult with your homeowners insurance provider first before deciding regarding payment plans or methods of disposal/removal.
That being said, there are a variety of other options available if traditional homeowners insurance doesn’t cover everything you need — including government help programs and financing plans — so don’t panic if this isn’t an option right away! With some careful research and smart decision-making, you’ll be able to find the right solution for your asbestos situation in no time.
And if you need help finding the best homeowners insurance coverage for the best price, start by speaking to a SimplyIOA agent at 833.872.4467 or get a homeowners insurance quote online now.