The specific kind of foundation that your home has makes a difference for home insurance policies. Your foundation, and the condition it is in will be a factor in what your insurance premiums will come to. Different climates have their own issues with foundation, and because of this, the type that is most likely in your home is one of these 3 most typical kinds of foundation:
Concrete is used in a slab foundation, and it's basically just poured concrete on 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. Slabs provide a solid, level surface for floors so homes built on slabs don't often have problems with creaking floors or doors that won't open and close as a house settles over time.
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.
A crawl space is a raised foundation which gets its name from the fact that it is built above the ground, allowing for just enough room to crawl underneath. 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. Most insurers will ask if your house was built on a continuous concrete foundation. They will also ask if the foundation shows any visible signs of erosion or cracking. 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.
Once you have determined that your home is built on a continuous concrete foundation, your insurer will calculate a rebuilding cost for the home, which is based, to some extent, on the type of foundation your home sits on. Be sure to look into what kinds of exclusions are part of your home insurance policy, so if there is an unfortunate situation, you know what is covered. Some insurers do not cover loss or damage triggered by such causes as wear and tear, defect, corrosion, mould, condensation or contamination, to name a few. In some cases, buckling, sinking, settling, or cracks in the structure may not be covered. Loss or damage caused by freezing, thawing, pressure or weight of water or ice to the foundation is also excluded.
In short, it's important to ensure that the foundation of your home, whether it is slab, crawl space or basement, is in good condition. In cases where the foundation is in bad condition, your home insurance may not cover damages that are a result of that.
Concrete is used in a slab foundation, and it's basically just poured concrete on 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. Slabs provide a solid, level surface for floors so homes built on slabs don't often have problems with creaking floors or doors that won't open and close as a house settles over time.
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.
A crawl space is a raised foundation which gets its name from the fact that it is built above the ground, allowing for just enough room to crawl underneath. 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. Most insurers will ask if your house was built on a continuous concrete foundation. They will also ask if the foundation shows any visible signs of erosion or cracking. 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.
Once you have determined that your home is built on a continuous concrete foundation, your insurer will calculate a rebuilding cost for the home, which is based, to some extent, on the type of foundation your home sits on. Be sure to look into what kinds of exclusions are part of your home insurance policy, so if there is an unfortunate situation, you know what is covered. Some insurers do not cover loss or damage triggered by such causes as wear and tear, defect, corrosion, mould, condensation or contamination, to name a few. In some cases, buckling, sinking, settling, or cracks in the structure may not be covered. Loss or damage caused by freezing, thawing, pressure or weight of water or ice to the foundation is also excluded.
In short, it's important to ensure that the foundation of your home, whether it is slab, crawl space or basement, is in good condition. 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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