What Insurance Companies Will Cover Asbestos Siding, Pros Cons Costs Of Hardie Board Siding Homeadvisor

Unfortunately in our experience the vast majority of homeowners insurance policies do not cover the cost of asbestos inspection and removal.

Mesothelioma mental health. Insurance companies will cover the cost of replacing the damaged sections and then reimburse homeowners up to a certain amount say about 20000 of the costs to replace the undamaged siding so that the entire house will match. It will then not pose a health hazard. I havent heard of an insurance company denying coverage because a home has asbestos siding.

Recently we got a notice from our insurance saying that our house may have asbestos siding and we need to get it tested even though the purchase agreement said it was masonite. Now ive done a bit of research on the siding itself and because its in great condition i would rather leave it up as removing it or even just covering it up with vinyl is not an expense i want to have off the bat. Most policies have an exclusion for pollution which prevents you from being reimbursed for cleaning up pollutants including asbestos.

Unless you cut into it and it becomes friable you shouldnt need to worry about it. Make sure asbestos is encapsulated such as sealed with paint. Most insurance policies are unlikely to cover asbestos removal so it tends to fall to the homeowner.

Will my insurance company cover asbestos removal. As removal costs are so high and asbestos is so widespread it would be excessively burdensome for insurance companies to cover the cost of all removal in all instances. Keep in mind that insurance companies wont be replacing your old siding for normal wear and tear.

Insurance for asbestos liability can cover a broad range of situations where a person may be involved with asbestos. Hi frank unless asbestos siding is disturbed it doesnt pose a significant health hazard and does not need to be removed. However you might get coverage to remove asbestos if your home gets damaged by a covered situation that releases the harmful asbestos in the air.

If insurance companies promised to pay for asbestos removal in every one of them theyd charge much higher premiums to cover the potential costs. As a matter of fact about 20 percent of all homes in the area likely have asbestos siding or other asbestos containing products says local insurance broker stephen lyons of lyons insurance. Covered situations include both direct and indirect exposure insured by.

Installing vinyl siding will require disturbing the asbestos by nailing into it. Both the epa and the vinyl siding institute recommend not disturbing asbestos if at all possible. Ive done a little research to see if insurance companies will cover homes with asbestos and ive found mixed reviews.

I called to get an insurance qoute on it from my agent and she told me they cannot insure it because of the asbestos. He expects other companies will follow allstates lead in dropping their customers as well making coverage difficult for homeowners in the lake.