Depending on what kind of foundation your home was built upon, your insurance company will have different options. Your premium will be determined, in part, by the type of foundation your home has. Warmer and colder climates have different foundations, so your geographical location will play a part in which of the 3 basic kinds of foundations that are used:
A slab foundation uses concrete to support the weight of the home and is usually concrete poured onto the ground. This kind of foundation is a very economical choice. It takes very little site preparation, very little formwork for the concrete and very little labor to create. Creaky floors happen less often with slab foundations, and the issues that happen with doors that open and close improperly are much less likely to happen as well.
A basement is built in a hole dug 6 to 8 feet into the ground to provide a stable foundation. Full basements provide space for the household utilities along with the head space that allows for building full rooms below grade.
Built above ground, a crawl space leaves just enough room to crawl under, but that is all. This kind of foundation has the advantage of having plumbing, wiring, and heating ducts underneath the home, and pest control is also aided because the house is not directly on the ground.
A home insurance provider will use information about your home's foundation in order to determine if you are suitable for coverage. Inquiries will be made by the insurance company about what kind of foundation your home has, so have some answers for them. Most insurers will ask if your house was built on a continuous concrete foundation. Questions will also be raised about visible indications of cracking or erosion as well. If the home doesn't have a foundation, it will usually not be insurable. Mobile and modular homes do not have foundations, so those and other older homes may need specialized insurance that is designed for homes like these, and the risks associated with them.
Insurance agents will calculate what the cost of rebuilding will be after the continuous concrete foundation is determined, and that will be a factor in the estimate that the agent comes up with. Not everything is covered under home insurance policies, so as a homeowner, you need to look into exactly what is covered, and what is not. When the cause of damage is from mould, contaminations, wear and tear, defects and corrosion issues, not all insurance policies cover these circumstances. Not covered in all policies are settling, structure cracks, and damages caused by sinking and things of that nature. Loss or damage caused by freezing, thawing, pressure or weight of water or ice to the foundation is also excluded.
What homeowners with basement, slab, or crawl space foundations need to remember is that the foundation is important to keep in good repair. If it is not, you may find yourself in a situation where you may not be covered for any damage under your home insurance policy.
A slab foundation uses concrete to support the weight of the home and is usually concrete poured onto the ground. This kind of foundation is a very economical choice. It takes very little site preparation, very little formwork for the concrete and very little labor to create. Creaky floors happen less often with slab foundations, and the issues that happen with doors that open and close improperly are much less likely to happen as well.
A basement is built in a hole dug 6 to 8 feet into the ground to provide a stable foundation. Full basements provide space for the household utilities along with the head space that allows for building full rooms below grade.
Built above ground, a crawl space leaves just enough room to crawl under, but that is all. This kind of foundation has the advantage of having plumbing, wiring, and heating ducts underneath the home, and pest control is also aided because the house is not directly on the ground.
A home insurance provider will use information about your home's foundation in order to determine if you are suitable for coverage. Inquiries will be made by the insurance company about what kind of foundation your home has, so have some answers for them. Most insurers will ask if your house was built on a continuous concrete foundation. Questions will also be raised about visible indications of cracking or erosion as well. If the home doesn't have a foundation, it will usually not be insurable. Mobile and modular homes do not have foundations, so those and other older homes may need specialized insurance that is designed for homes like these, and the risks associated with them.
Insurance agents will calculate what the cost of rebuilding will be after the continuous concrete foundation is determined, and that will be a factor in the estimate that the agent comes up with. Not everything is covered under home insurance policies, so as a homeowner, you need to look into exactly what is covered, and what is not. When the cause of damage is from mould, contaminations, wear and tear, defects and corrosion issues, not all insurance policies cover these circumstances. Not covered in all policies are settling, structure cracks, and damages caused by sinking and things of that nature. Loss or damage caused by freezing, thawing, pressure or weight of water or ice to the foundation is also excluded.
What homeowners with basement, slab, or crawl space foundations need to remember is that the foundation is important to keep in good repair. If it is not, you may find yourself in a situation where you may not be covered for any damage under your home insurance policy.
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