They stole $11,000 from me.

The despicable creatures literally took money right out of my house.  I made a mistake that I hope others can learn from.  Here’s what happened.

I purchased a home in 2005 which was in serious disrepair.  It was dated and had lots of damage.  Yet, when I met with my contractor, we decided to rehabilitate the property as opposed to tearing it down.  We put tens of thousands of dollars into the home replacing every major component and every piece of rotten wood.

After the repairs were made, we had no problem renting the “like-new” home to an excited tenant.  We leased the home for four years and then made the decision to sell the home.  We put the home on the market, obtained a contract and then… got the news.  The home was literally eaten up with termites.  These bugs infiltrated the home and bite by bite stole the equity out of my home.  When it was all said and done, they ate almost $11,000 out of my checking account.

You see, termite damage is not covered by homeowners insurance.  In fact, termites are one of the few things that are excluded that you can’t buy back coverage for in the form of an endorsement.  While I knew there was no coverage for termites, I had just almost completely rebuilt the home!  I didn’t even consider that I was at risk for termites eating it up.  My mistake.

I was reminded of my expensive mistake just recently when one of our clients placed a claim for termite coverage.  They were making some modifications to their home and uncovered severe termite damage.  Entire walls were removed to repair the damage.

termite damage

Don’t let this happen to you.  It is horrible to learn that bugs literally ate your house and caused thousands of dollars in damage.  Since there is no option to add termite coverage to your homeowner’s policy, we recommend doing two things to prevent termite damage:

  1. Moisture, and moisture damaged wood, attracts termites.  Periodically check around common sources of leaks such as toilets, showers and washing machine hoses for any leaks.  Periodically inspect your gutters to ensure that water is being properly routed away from your home.  Address any moisture problems as soon as possible.
  2. Invest in a termite contractor with a reputable pest control company and have your home inspected by a certified termite and moisture control technician at least annually.

In addition, if you are purchasing a home, make sure that you are working with a properly certified, professional inspector for your termite inspection. Also, look for the tell-tale signs of damage as you’ve viewing a home. Once you have purchased your home or if you are currently living in your home, remember that prevention is key! In addition to the recommendations to check for moisture rich areas, consider getting a periodic pest control service to check your house out for termites and moisture leaks. You can often get the same company to cover other pest-mitigation such as mosquitos, fleas, mice and other infestations. Ask us about our Recommended Professionals for pest control services or check out who we recommend on: www.choiceins.com/recommended-professionals/.

The Choice Insurance Agency. We’re on YOUR side. 757-416-5100 .

 

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The Choice Insurance Agency’s mission is to help you get from where you are to where you want to be financially by planning, achieving your plan and protecting your plan from unexpected events.  In the process, our goal is to deliver insurance services in a manner that exceeds your expectations.  See what The Choice Insurance Agency can do for you today. Give us a call at 757-416-5100 to speak with one of the licensed, professional members of our team or request a contact here. The Choice Insurance Agency. We’re on YOUR side. 757-416-5100 .