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What is a termite bond?

April 22, 2016 | Termite Information

what is a termite bond

Any homeowner who owns a home in a particular location with active termite infestations is going to want to call their local pest control company and set up a termite bond with them. A termite bond is basically a contract between the pest control company and the homeowner. The contract outlines how often the pest control company will come to the homeowner’s residence and treat it for termite prevention. The contract may even include a provision where the pest control company offers to reimburse the homeowner for any damages that occur to their home from termites while they are treating it. That way if the termites end up causing any structural damage to the home then the homeowner won’t have to worry about paying for the repairs, which are often quite extensive. This gives homeowners the peace of mind they are looking for when it comes to termite control and prevention.

Sometimes termite bonds will be offered with the purchase of a new home as well. An area that is prone to termite infestations might make some home buyers cautious about making any purchases there. So what a homeowner will do is transfer their termite bond to the buyer which assures them that they will be protected. Of course, the regulations of these bonds vary from state to state because of the varying levels of termite activity in them. Some states only allow termite bonds to cover the retreatment of the home, but not the cost of repairs. If you live in a state that does allow both to be covered, it may still be up to the pest control company overall. They will do an inspection of the home and the results of that inspection will determine how much coverage you get from the termite bond.

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Remember that homeowner’s insurance very rarely covers termite damage. That is why termite bonds exist in the first place because they are a special kind of insurance coverage that you can only get with your pest control company to cover termite infestations and damage. A lot of homeowners don’t realize that because they think their homeowner’s insurance covers any damage to their home, which is not true. Since over 600,000 homes in the United States are affected by termite damage each year, you might want to take it upon yourself to look into getting a termite bond if you don’t have one already and you live in an area that gets termites regularly.

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