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. Depending on where you live in the country and the type of climate associated with that, your home will most likely have one of three types of foundation:
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. These do not take a lot of physical labor, there is minimal formwork, and the site is quick to prepare. 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.
Typically, basements are about 6-8 feet underground, and a stable foundation is achieved in this way. Full basements provide space for the household utilities along with the head space that allows for building full rooms below grade.
Another type of foundation is a crawl space, which is raised just above ground, with just enough space to crawl underneath the home. The crawl space foundation leaves room for heating ducts, wiring and plumbing beneath the home, and because it is above ground, less pests generally make it inside the home.
A home insurance provider will use information about your home's foundation in order to determine if you are suitable for coverage. They will ask questions, so find out about your foundation so you can provide the needed details. You will likely be asked if you have a continuous concrete foundation by most insurance agents. They will also ask if the foundation shows any visible signs of erosion or cracking. Most insurers will only insure homes if they are built on a foundation. When there is no foundation for the home, a specialty insurance provider may be needed because of the risks that are involved in mobile and modular homes, or other older homes without a foundation.
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. There are some policy exclusions to be aware of when insuring your home and you need to be aware of them in the event of a loss. When the cause of damage is from mould, contaminations, wear and tear, defects and corrosion issues, not all insurance policies cover these circumstances. In some cases, buckling, sinking, settling, or cracks in the structure may not be covered. Freezing and thawing can cause damage, and the weight of ice and water can cause foundation damage, these issues are usually exclusions from what the policy covers.
What homeowners with basement, slab, or crawl space foundations need to remember is that the foundation is important to keep in good repair. In cases where the foundation is in bad condition, your home insurance may not cover damages that are a result of that.
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. These do not take a lot of physical labor, there is minimal formwork, and the site is quick to prepare. 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.
Typically, basements are about 6-8 feet underground, and a stable foundation is achieved in this way. Full basements provide space for the household utilities along with the head space that allows for building full rooms below grade.
Another type of foundation is a crawl space, which is raised just above ground, with just enough space to crawl underneath the home. The crawl space foundation leaves room for heating ducts, wiring and plumbing beneath the home, and because it is above ground, less pests generally make it inside the home.
A home insurance provider will use information about your home's foundation in order to determine if you are suitable for coverage. They will ask questions, so find out about your foundation so you can provide the needed details. You will likely be asked if you have a continuous concrete foundation by most insurance agents. They will also ask if the foundation shows any visible signs of erosion or cracking. Most insurers will only insure homes if they are built on a foundation. When there is no foundation for the home, a specialty insurance provider may be needed because of the risks that are involved in mobile and modular homes, or other older homes without a foundation.
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. There are some policy exclusions to be aware of when insuring your home and you need to be aware of them in the event of a loss. When the cause of damage is from mould, contaminations, wear and tear, defects and corrosion issues, not all insurance policies cover these circumstances. In some cases, buckling, sinking, settling, or cracks in the structure may not be covered. Freezing and thawing can cause damage, and the weight of ice and water can cause foundation damage, these issues are usually exclusions from what the policy covers.
What homeowners with basement, slab, or crawl space foundations need to remember is that the foundation is important to keep in good repair. In cases where the foundation is in bad condition, your home insurance may not cover damages that are a result of that.
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