Warning

 

Close

Confirm Action

Are you sure you wish to do this?

Confirm Cancel
Member Login

Posted: 5/16/2005 2:36:31 PM EDT
Have an old junker house in Maine (125 years old). The old insurance company
closed up, and am trying to get a new policy with another company.

The house has asbestos siding, and when insurance agents read this, they all reject
renewing the policy.

The house is only occupied about 4-5 weeks a year total, as my parents are too old to
live there anymore.

We really don't want to go through the whole asbestos mitigation thing, as the house is
used so little these days.

Anyone have a similiar problem, or are in the insurance business and can recommend
a company willing to insure under these conditions?

Thanks.
Link Posted: 5/16/2005 2:42:55 PM EDT
Link Posted: 5/16/2005 2:44:35 PM EDT

Originally Posted By The_Beer_Slayer:
BONFIRE



Needs insurance first...
Link Posted: 5/16/2005 2:51:20 PM EDT
Well, Im not in insurance, but I have looked at a house I was going to buy that had asbestos siding. I researched and it seemed like it was best to reside over the top of the asbestos rather than removing it because of the high cost of removal (if you contract it) and disposal.

Not sure if residing would help with insurance. You could reside it and say "nope, siding is not asbestos!"

What I read to reside it with was an insulated wallboard then reside over the wallboard, or slap on a concrete-type-mixture then reside over that. Either way is cheaper than removing asbestos (from what I heard)
Link Posted: 5/16/2005 2:59:14 PM EDT
Link Posted: 5/16/2005 3:02:58 PM EDT

Originally Posted By The_Beer_Slayer:
BONFIRE



HELLOOW.

It's asbestos.

It don't burn.
Link Posted: 5/16/2005 3:21:19 PM EDT
How does Asbestos hurt you if it is on the OUTSIDE of your house?
Link Posted: 5/16/2005 3:27:52 PM EDT

Originally Posted By CZ75_9MM:
How does Asbestos hurt you if it is on the OUTSIDE of your house?



It won't...

The major problem in addition to insurance is he may have to take the siding off if he wants to sell the house… and coving with vinyl probably will not help because any decent house inspector will find that out.
Link Posted: 5/19/2005 6:55:53 AM EDT
Many companies will not cover it. However, residing the house will mitigate that problem. I may also be able to help out - I write Travelers insurance in NH and if you want I can see if they will write it.
Link Posted: 5/19/2005 7:38:38 AM EDT
Surely there is some insurance company that will write a policy as there are many houses around where I live (built back in the 40's and 50's) that have asbestos siding. I have even seen some in the $250K plus range with asbestos siding. So someone is writing policies on them.
Link Posted: 5/19/2005 8:04:19 AM EDT

Originally Posted By rebel_rifle:
Surely there is some insurance company that will write a policy as there are many houses around where I live (built back in the 40's and 50's) that have asbestos siding. I have even seen some in the $250K plus range with asbestos siding. So someone is writing policies on them.



I wrote my own policy when I bought my house in Oak Ridge with asbestos siding with Travelers.
Link Posted: 5/19/2005 8:11:30 AM EDT

Originally Posted By Greywolf2112:

Originally Posted By rebel_rifle:
Surely there is some insurance company that will write a policy as there are many houses around where I live (built back in the 40's and 50's) that have asbestos siding. I have even seen some in the $250K plus range with asbestos siding. So someone is writing policies on them.



I wrote my own policy when I bought my house in Oak Ridge with asbestos siding with Travelers.




Do you know where Sequoyah Hills is in west Knoxville? Go over there and you can spot the asbestos sided houses easily over there, there are very many of them still. Some will sell in the $300K range, believe it or not. Some company is insuring them.
Link Posted: 5/19/2005 8:16:34 AM EDT
We just bought a house with asbestos siding, and insured it. Not to mention 3/4 of the homes i look at to buy have asbestos siding. Alot of the homes in Maine have it, and I have not been turned down by anyone. Look with a broker. There you will find the answer.

The only thing I am afraid of with asbestos (and why I am reluctant to buy any more properties that have it) is I am afraid some liberals in my state are going to get together and ban it or something, and give me like 1 month to get rid of it and it is expensive to dispose of .
Link Posted: 5/19/2005 8:20:31 AM EDT

Originally Posted By Halfcocked:

Originally Posted By The_Beer_Slayer:
BONFIRE



HELLOOW.

It's asbestos.

It don't burn.



He was smarting off, suggesting the entire house....................................

HELLLLLOOOOOOOOOOOOOOO
Link Posted: 5/19/2005 8:26:24 AM EDT

Originally Posted By Stormtrooper:
We just bought a house with asbestos siding, and insured it. Not to mention 3/4 of the homes i look at to buy have asbestos siding. Alot of the homes in Maine have it, and I have not been turned down by anyone. Look with a broker. There you will find the answer.

The only thing I am afraid of with asbestos (and why I am reluctant to buy any more properties that have it) is I am afraid some liberals in my state are going to get together and ban it or something, and give me like 1 month to get rid of it and it is expensive to dispose of .



Stormtrooper - if that DOES happen, there is a provision in your home owner's insurance called "Ordinance/Law" which will pay the cost of bringing your home up to code - usually set at up to 10% of the replacement cost of your home.
Link Posted: 5/19/2005 8:28:15 AM EDT
sweet grey! thanks. I did not know that.

I am still working on my deal, but once it is secured i will be contacting you.

Cheers.
Link Posted: 5/19/2005 8:53:08 AM EDT
Stupid insurance ninnies. Asbestos siding is NOT harmful and is never going to form harmful, respirable fibers yet the idiots see the word "asbestos" and immediately thing one will get lung cancer from a mere glance at the house.

Look at the benefits. Asbestos siding is fireproof, insect proof, mildew resistant, imperverious to rot, thermally stable, waterproof...damn, if it were only bulletproof and blocked gamma rays, it would be perfect!

Insurance companies are misguided.
Link Posted: 5/19/2005 12:43:16 PM EDT

Originally Posted By Keith_J:
Stupid insurance ninnies. Asbestos siding is NOT harmful and is never going to form harmful, respirable fibers yet the idiots see the word "asbestos" and immediately thing one will get lung cancer from a mere glance at the house.

Look at the benefits. Asbestos siding is fireproof, insect proof, mildew resistant, imperverious to rot, thermally stable, waterproof...damn, if it were only bulletproof and blocked gamma rays, it would be perfect!

Insurance companies are misguided.



You will hear no arguments from me
Link Posted: 5/19/2005 12:48:10 PM EDT

Originally Posted By OLY-M4gery:

Originally Posted By Halfcocked:

Originally Posted By The_Beer_Slayer:
BONFIRE



HELLOOW.

It's asbestos.

It don't burn.



He was smarting off, suggesting the entire house....................................

HELLLLLOOOOOOOOOOOOOOO



...and you really thought I was serious?

Top Top