Asbestos And Insurance Coverage For Rhode Island Homeowners

Asbestos is a group of dangerous, cancer-causing minerals commonly found in 20th-century buildings throughout the United States. Exposure, even in small amounts, can lead to health problems later in life, making safe asbestos removal or abatement essential. While you might think that your homeowners' or property insurance won’t help you pay for asbestos removal, there may be some circumstances when insurance will help you foot the bill. Asbestos and insurance policies can be confusing, but we’ll walk you through the process and provide you with the information you need to make an informed decision.

Learn more about common asbestos abatement insurance questions below. Plus, learn how much an average asbestos removal job costs without insurance, and where you can find programs to help pay for asbestos removal.

Does Home Insurance Cover Asbestos Removal?

Asbestos is considered a pollutant and is usually excluded from coverage under most homeowners' and commercial property insurance policies; remodels or general wear and tear are also excluded.

However, there may be certain cases when asbestos and insurance could work in tandem as part of another property damage claim.

Property insurance policies only pay for expenses related to “covered perils,” which are sudden accidents or disasters that damage your property. Common covered perils on most property insurance policies include:

• Fires and explosions
• Water damage
• Storm damage, such as wind, rain, and hail
• Lightning
• Weight of ice, snow, and sleet
• Burst pipes or boilers
• Falling Objects, such as trees, logs, or rocks

If part of your building suffers severe fire or water damage in a sudden event like one of these, and the damaged area includes older building materials known to contain asbestos, then your insurance company might help pay for asbestos removal as part of your property damage claim.

When Asbestos And Insurance Collide

In essence, insurance only covers asbestos removal if it’s part of a larger property damage claim.

For example, imagine that a tree falls through your roof, damaging both your roofing materials and part of your attic. Repairing the hole will involve replacing the damaged roofing and insulation. If your attic insulation is older and made with asbestos, the insurance company might help you pay for abatement contractors to safely dispose of asbestos in the impacted area.

Asbestos and Insurance Claims After Property Damage. How Much Does Insurance Cover?

That depends on your insurance company and your policy's limits.

In the example above, an insurance company wouldn’t pay for abatement throughout the entire attic but would likely only offer funds to remove and replace the insulation in the affected area. If you’d like the asbestos contractors to replace the insulation throughout your attic, you’ll need to make up the difference out of pocket.

Additionally, some insurance policies have asbestos abatement insurance budget limitations, such as up to $10,000. When in doubt, look at your policy, or call your company and ask if asbestos remediation is excluded.

Asbestos And Insurance: How Much Does Asbestos Removal Cost Out of Pocket?

Asbestos removal costs can range between $8 to $55 per square foot, depending on factors like the square footage, location, labor intensity, and whether your project is commercial or residential. But according to Angi, the average asbestos removal costs between $1,192 and $3,261.

What To Do If There Is Asbestos and Insurance Won't Cover It

If your insurance won’t pay for asbestos removal, and you can’t afford it on your own, don’t panic. There may be other, more affordable ways to keep your home or building safe, such as the following:

Encapsulate The Asbestos

Instead of fully removing the asbestos, consider encapsulating. Encapsulation involves sealing the asbestos in place instead of fully removing it. It’s less labor-intensive than a full removal and generally more affordable, with the average cost ranging between $2 and $6 per square foot.

Check out our blog on asbestos removal vs encapsulation to learn more about when encapsulation is a smart choice for your space.

Research Asbestos Grants

Government programs sometimes offer home repair loans or grants for people who meet low-income thresholds, which can go towards asbestos abatement

The U.S. Department of Agriculture home repair program offers loans to low-income, single-family homeowners to remove health and safety hazards. The Department of Housing and Urban Development (HUD) also has a healthy home grant program. Your state or city governments might also offer loan programs or referrals for low-cost abatement contractors.

Ask A Nonprofit

Local nonprofits may offer loans or grants to homeowners or small-business owners to remove health and safety hazards in their buildings. For example, some Habitat for Humanity chapters offer critical home repair programs to people who qualify.

Work With A Company That Are Experts in Asbestos And Insurance

If you’re ready to work with an asbestos removal contractor who can safely remove asbestos with or without insurance help, Prime Remediation is here for you.

We specialize in large-scale or commercial buildings, and in addition to asbestos removal and remediation, we also offer fire and water damage remediation. This means we can work directly with your insurance company after disaster strikes, and bundle disaster remediation with asbestos removal for a seamless experience. Plus, we never pay referral fees to other contractors, which allows us to keep some of the lowest prices in the state.

Contact us today for a quote on your asbestos abatement project.