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Is Termite Treatment Covered by Insurance on Long Island?
Homeowners’ insurance works to protect you against unexpected costs related to your home. But does it cover termites? Unfortunately, insurance agencies rarely cover termite-related costs on Long Island or nationwide.
Insurance policies don’t tend to cover problems that are considered preventable. And the bad news is that insurance companies consider termites to be a preventable problem. While regular insurance doesn’t cover termite treatment, some companies do offer add-on coverage you can buy called a “termite bond.”
Why Doesn't Insurance Cover Termite Infestations?
Property damage from termites happens slowly over time instead of suddenly or accidentally, which are typically the kinds of damages that insurance companies cover (e.g. fire, storm, accident).
Even though your insurance likely will not cover preventative termite treatment, you should not let that stop you from investing in regular service from a professional pest control company. Some companies also offer termite bonds that can provide you with protection that your insurance policy cannot.
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Termite Treatment Cost for Home Buyers on Long Island
If you are planning to buy or sell a home on Long Island that has a termite history, you may be wondering who is responsible for the pest inspection and/or treatment cost. The process typically works like this:
- Few states require termite inspections as part of a home sale, however most mortgage lenders in NY and many other states won’t issue a loan without one
- In almost every state in the country, the home seller must pay for termite inspections
- If past or present termite activity is found, the seller is usually also responsible for covering treatment either up-front or in closing costs
- The property buyer is most often responsible for anything considered to be termite prevention for the future
Do I Need a Termite Bond?
Termite bonds are a form of add-on insurance that covers the cost of treating infestations and potentially also damages. Termite bonds may be issued by insurance companies or pest control companies.
The goal is that with regular treatment and prevention made possible by the termite bond, termite infestations will not become an issue.