When it comes to termite treatments and damage, it’s important to recognize that they are not usually covered by U.S. insurance providers, including Mid-South TN.
Homeowners’ insurance acts as a financial shield, safeguarding you against unforeseen expenses resulting from disasters within your residence. So why do these policies exclude termite damage? Mostly because insurance carriers categorize issues like termite infestation as preventable.
Despite the absence of termite treatment coverage in your insurance plan, there are alternative strategies to secure your property from potential termite damage, including the option of termite bonds.
The Reality of Termite Infestations and Insurance
The gradual nature of termite deterioration, (as opposed to the sudden and accidental damage caused by fires or storms), is why insurance rarely extends coverage to termite-related costs.
Even though your insurance plan likely excludes preventive treatments for termites, it’s critical to view this not as a deterrent but as a cue to invest in consistent professional pest control services. Many providers offer termite bonds, furnishing you with a layer of protection beyond what your typical insurance policy provides.
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Dealing with Termite Treatment Costs in Real Estate Transactions
As you navigate the real estate market in Mid-South TN, the presence of termites can be a significant concern, especially when considering the financial responsibilities associated with treatment. Here’s a general breakdown of the usual practices:
- Sellers are typically expected to finance termite inspections in nearly every state.
- Should inspections reveal current or past termite activity, the seller normally bears the cost of eradication, either by upfront payment or through settlement at closing.
- Future preventative measures often fall under the purview of the buyer, a step essential for safeguarding the property moving forward.
Termite Bonds and More for Your Mid-South TN Home
Termite bonds represent a special agreement, somewhat akin to an insurance policy, designed specifically to mitigate the costs associated with treating termite infestations. Under most termite bond arrangements, the pest control company takes responsibility for termite-induced damages. The goal of termite bonds is that with consistent treatment and preventive efforts, termite issues will be kept at bay.
Our termite extermination team at Inman-Murphy, Inc. is on hand to discuss the specifics of termite bonds and assist you in exploring whether this form of protection (or other services) aligns with your needs.
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