It doesn't matter if you want to protect your home or have commercial properties to look after living with the fear of something happening and not being able to pay is stressful. Without it, you could face substantial financial costs.Īlthough many people struggle with the idea of insurance, as most of the time you'll never need it, it's still essential if you want peace of mind. Think of it this way insurance is a safety net that protects you from disasters or accidents. Why You Still Need Insuranceįor those people wondering 'what is insurance?' and 'is it worth it if it doesn't cover asbestos siding?', this section will give you an overview of the importance of taking out insurance. Then, you can decide if it's worth removing asbestos or if it's recommended to leave it be. If you have a suspicion that these areas could be affected by asbestos, it's best to call a professional to have a look.

Insulation in walls, attics, and basements.

To help you determine if there is asbestos in your space, here is a list of the familiar places it can be found:

Otherwise, you could end up harming yourself and spreading asbestos dust in your home. You need to hire a professional with the right equipment and knowledge to remove the substance safely. On average, it costs between $1,500 to $3,000 to remove asbestos.īut, it can cost thousands more for more significant buildings and businesses.Īlthough many problems in a home or building can be solved with DIY methods, asbestos is an exception. The cost of removing asbestos will vary depending on the size of your property, the location, and how much of it there is. And, we have more information for commercial properties too. But, this will depend on the situation and how severe the damage is.Īt Econosurance, we have a guide to buying a house with the best home insurance policy to help you navigate this new world if this is your first time.

Although, there are some cases where you could claim insurance.įor example, you could claim money under insurance if your house or building structure is severely damaged by asbestos. The question is, 'what insurance companies will cover asbestos siding?' And the answer is that most of the time, asbestos is not covered by insurance premiums.ĭue to its carcinogenic properties, removing asbestos is quite expensive, and most insurance companies will not include it in their policies. What Insurance Companies Will Cover Asbestos Siding? However, many people would prefer to get rid of asbestos to limit the risk in the long term. In some cases, as long as the areas have not been damaged, they won't cause any problems. Now, just because asbestos is present in the roof and sidings doesn't necessarily mean it's dangerous. If building materials have been damaged and contain asbestos, then tiny particles of the fibers can be inhaled and cause damage to your lungs over time. Their unique properties are what make them an ideal choice for roofing and siding materials.Įven though the U.S government has banned all new uses of asbestos, there are some kinds of this substance made before 1989 that are still legal. To keep it simple, asbestos is a mineral made up of flexible fibers that are resistant to heat, electricity, and corrosion. What Is Asbestos?īefore we talk about insurance companies and what they offer, it's essential to understand what asbestos is and why it can be a problem. That way you'll be prepared for any costs that might come your way in your home. This insurance guide will give you everything you need to know about asbestos siding and if it's included in insurance policies. If you're a new homeowner looking for insurance tips or want to learn more about asbestos for commercial properties and how it can be treated, you've come to the right place. So what insurance companies will cover asbestos siding? However, homeowners are also victims of this substance that can cause health damage as it is used to build houses. It's estimated that 125 million people are exposed to asbestos at work worldwide.

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