insurance for single family home with asbestos siding

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insurance for single family home with asbestos siding

Clair Lauderdale
Decatur, GA · Member since 2014 · 14 posts · 1 vote

Does anyone know of any carriers that will insure a home in GA with asbestos siding?  OR a way to inexpensively remedy this or get around this issue?  Advice please.

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Frederick, MD · Member since 2015 · 654 posts · 256 votes
10y

As @Marcia Maynard stated, unless the siding is compromised, then it's likely to pose very little risk and I'm surprised to hear that Allstate decline to cover the place.  On another note, should you find that you need to replace a tile here and there, there is replica product on the market, non-asbestos of course, that makes repairs a snap.  They come in straight, wavy and staggered patterns and are modeled after the mass produced original products.

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  • Matthew Paul
    Severna Park, MD · Member since 2013 · 7k+ posts · 7k+ votes
    10y

    Try erie insurance 

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  • Jeff Sheraton
    Wilmington, DE · Member since 2015 · 121 posts · 36 votes
    10y

    Were you denied insurance?  I believe I have a place with asbestos siding, State Farm didn't raise any issue.

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  • Clair Lauderdale
    OP
    Decatur, GA · Member since 2014 · 14 posts · 1 vote
    10y

    I was through Allstate and now looking for another carrier.  Will try State Farm or Erie.  Any one else with any other information, please advise.   For instance, should I consider putting another type of siding over it?  Hardy board?

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  • Jeff B.
    Buy & Hold Owner · Redlands, CA · Member since 2015 · 5k+ posts · 2k+ votes
    10y

    Contact a contractor, ask if covering it would be okay - - these guys known the codes and asking one, two or three of them would not expose you to City interference.

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  • Marcia Maynard
    Investor · Vancouver, WA · Member since 2013 · 3k+ posts · 4k+ votes
    10y

    One of our rental houses has asbestos siding. It is good siding and a great insulator. Unless you cut into it and it becomes friable, you shouldn't need to worry about it. Make sure asbestos is encapsulated, such as sealed with paint. It will then not pose a health hazard. I haven't heard of an insurance company denying coverage because a home has asbestos siding. For an insurance recommendation, I'd say Safeco or USAA. We've had good experiences with both of them.

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  • Account Closed
    Frederick, MD · Member since 2015 · 654 posts · 256 votes
    10y

    As @Marcia Maynard stated, unless the siding is compromised, then it's likely to pose very little risk and I'm surprised to hear that Allstate decline to cover the place.  On another note, should you find that you need to replace a tile here and there, there is replica product on the market, non-asbestos of course, that makes repairs a snap.  They come in straight, wavy and staggered patterns and are modeled after the mass produced original products.

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    10y

    I own a property with asbestos siding, and it has never been an issue.  The only time I have given it any thought was when the property next door was on fire and I was thinking thank god I have asbestos siding instead of vinyl siding.

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  • John Marcelli
    Rental Property Investor · Warren, RI · Member since 2018 · 3 posts · 0 votes
    8y

    I'm having one heck of a time finding ANYONE in RI that offers "reasonable" insurance.  Funny thing is, I've found more than enough proven evidence about this:  

    "Asbestos tiles, for exterior siding are also common in our area. These are extremely durable, and, like flooring present very little to no risk if left in place."

    But the minute you mention "asbestos" some insurance companies are like "oh forget it, we can't do that".  There is absolutely no data or documented evidence from ANYONE getting Mesothelioma from exterior siding of a house.  In fact, it's been more of a fire deterrent than any normal siding.  I don't understand why this is.  Probably lack of knowledge on this and what type of asbestos actually is a health risk.  Siding definitely is not and this building was family owned for over 50 years.  Not ONE of them has ever had cancer.

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  • Brian R.
    Bayport, MN · Member since 2018 · 92 posts · 52 votes
    8y

    I just went through the same things with one of my rentals.  It has asbestos siding on it, and Allstate is canceling my policy at the end of the term.  I ended up going to an independent insurance broker, and got new insurance for all my properties and vehicles, but he had a hard time finding someone to cover the property with asbestos.  One of the questions on his on-line questionnaire was, does the property have asbestos siding?  He ended up getting me covered through Foremost insurance for that property, but it is almost double the cost I was paying Allstate.  All of the rest of my properties and vehicles are through Auto-Owners insurance, for less then I was paying Allstate.

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