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How Asbestos Impacts Home Insurance

Nov 09, 2022

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How Asbestos Impacts Home Insurance

Home insurance helps protect one of your most important assets. In most cases, the policy covers interior and exterior damage to your home. However, it is important that you perform regular maintenance around your home. That's where the topic of asbestos becomes interesting. Here is a closer look at homeowners insurance asbestos removal.

What Is Asbestos?

Older model homes were built using materials that contained asbestos. Asbestos is a mineral fiber that contractors use to build homes because it is durable and isn't flammable. Asbestos was also included in many household items. It wasn't until nearly 20 years later that scientists discovered the harmful effects of asbestos. Consuming asbestos on a regular basis leaves people vulnerable to serious health issues. After the material was linked to lung cancer, the Environmental Protection Agency implemented strict safety guidelines regarding asbestos.

In some cases, asbestos may not pose a significant danger. The risk is minimal as long as asbestos is taken care of. Damaged asbestos releases harmful toxins into the air that can damage your lungs if you inhale too much.

Possible Target Spots Around the Home

Asbestos can be found in several places around your home. Your HVAC unit may be insulated using the material. Asbestos can be found on walls and floors. Contractors used the material to seal pipes and gaskets. Asbestos may be found in some of your appliances, such as an oven or stove. Gas-fired fireplaces installed in the early 1980s may contain asbestos. The material can also be found in paint, shingles, and roofing materials. It's recommended that you contact a professional if you are unsure about the level of asbestos in your home. The contractor will perform a thorough inspection of your home.

Does Home Insurance Cover Damages?

In most cases, homeowners insurance asbestos removal is excluded from your policy. The only way most insurance companies cover damages if asbestos exposure occurs is if it happened due to a covered disaster such as a fire or severe weather. If asbestos spreads throughout your home due to poor maintenance, you will be responsible for covering the removal costs. Removal costs vary, but they are generally based on the amount of contaminated space and its location.

Things to Consider

If you believe that your home has been exposed to asbestos, seek professional assistance. Do not try to remove the hazardous materials on your own. Cutting any tiles that contain asbestos may expose you to serious health risks. Remember that professionals are trained on how to minimize the spread and prevent further contamination. Contractors will also use the appropriate equipment to treat the issue and keep everyone safe. The easiest way to avoid potential issues is by taking care of your home. Cleaning your home regularly will prevent asbestos from causing problems.

Consult with John E. Peakes Insurance Agency to Cover Your Home

Exposure to asbestos can cause you to become gravely ill. If you are aware of any appliances in your home that were made with asbestos, tread lightly. If you notice any signs of damage, contact us today. Our team here at John E. Peakes Insurance Agency will resolve all your issues and help create the best homeowners insurance policy for you.