Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips

Follow AgentsOnline on Twitter

Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Realtor CommunityA popular online real estate community since 1998!


Sponsored Links
How To Advertise Here
How To Advertise Here

Good Idea!
Realtor Promotion Service

Sponsored Links
(Views)Popular Topics
No new orders today 13123405
Stupid MLS comments. 3309895
What do you know about Froy Candelario, top agent in USA 1207943
Stupid QC comments and BPO requirements. 1082596
New HUD Listing Brokers---Any Update? 1043232
Is there religious content in Buffini class? 835764
Let's talk about our cars 681486
Name that Flick. Great movie Lines. 614389
Pay it Forward - BPO/REO Tips & Tricks I & II 603531
Most common items found at an REO 593666
EML 459233
Main Street 434781
asset val seminar in colorado 415229
assist 2 sell or 1 percent realty? 346826
HOMONYMS - There, Their, and They're 317074
Evalonline 300206
Land America 285053
Mainstreet 261860
Matched Content
Topic Options
Rate This Topic
#417655 - 12/30/12 06:45 PM Insuring a home with Asbestos Siding
AML Offline

Registered: 02/02/08
Posts: 145
Loc: Atlanta, GA

I live in a home built in 1920 and it has Asbestos siding. I've always had Auto Owner's Insurance for nearly the 8 years that I've owned this home.

Recently my regular insurance agent retired so I switched the policies to a new company to manage, but still my home, auto and umbrella are with Auto Owner's

Just yesterday I received a letter from Auto Owner's stating that they are dropping my home owner's insurance because I have asbestos siding. So now I have to move all my policies elsewhere.

I know I'm not the only home in America with Asbestos siding. So who insures asbestos siding?

Any help would be appreciated.

#417659 - 12/30/12 08:07 PM Re: Insuring a home with Asbestos Siding [Re: AML]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7766
Loc: Vermont's North-East Kingdom
Sounds like a gross mis-understanding of the properties of this naturally occurring mineral, and demonstrates a limited knowledge of the risks associated with "some" human usage of it.

As a matter of fact, asbestos siding makes your home one of the least fire prone dwellings around, and in that form, the siding does not present a health/respiratory risk as those fibers are rigid and are not fluttering around in the atmosphere and impregnating people's lungs.

But you'll not be able to change a corporate mentality that sees it as a risk. I'm sure you'll find a replacement carrier who'll be glad to insure your residence for the fire hazard. Everyone hasn't thrown the baby out with the bath water.

PS: Asbestos was one of the few minerals mined out of Vermont; but those mines have been shut down a few decades ago.
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

#418110 - 01/09/13 01:59 PM Re: Insuring a home with Asbestos Siding [Re: AML]
Scintillion Offline

Registered: 01/26/12
Posts: 437
Loc: Colorado, USA
Sometimes it seems as if getting home insurance these days is extremely difficult compared to times past. It's a shame when you can get turned down for no good reason. Good luck with getting it done.

#442783 - 01/26/15 08:37 PM Re: Insuring a home with Asbestos Siding [Re: AML]

I am having a terrible time insuring my house with asbestos siding also. I am with one carrier, who is insuring me for $210K with a $1000 deductible. I am insured for $650 a year. I am not pleased with my agent's service so I was seeking to transfer my policy elsewhere. I contacted my auto insurance agent and asked him to shop around for a policy for me.

It took him 2 weeks to get back to me, after I called him several times and he responded he hadn't gotten an attractive deal yet. His response after shopping me through countless companies is that my house is nearly uninsurable with asbestos siding. If I chose it, I had a single option for a carrier out of their large cache of resources -- and it would come at a cost of $1800 a year with a "surplus carrier" (which I read to mean 'substandard') and I would need to apply for special 3rd party financing (read, finance charges) if I did not have the money up front. The policy would be for $220K with the same deductible.

I guess I am stuck with my 85 year old no-nothing agent. Fortunately, I realized that my siding material is not listed as "asbestos" on my policy. It is listed as "other", though I made her aware of the substance when we signed this policy 2 years ago. This is how I saved nearly $1200 and was able to sign with a reputable company... you need to find someone willing to check that box.

#444173 - 03/12/15 09:15 AM Re: Insuring a home with Asbestos Siding [Re: Guest]
Nashville Homes Offline

Registered: 07/25/13
Posts: 113
Loc: Nashville, TN
Thank you so much for sharing your story!

Trying to read up on common insurance issues in older homes, doing substantially more work in an older part of town.


Google Custom Forum Search

This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.

Newest Members
hafiz sajid, Ashton MacDonald, Larry Charles, National, croe
29898 Registered Users
Who's Online
2 registered (hafiz sajid, 1 invisible), 35 Guests and 4 Spiders online.
Key: Admin, Global Mod, Mod
Shout Box

Top Posters (30 Days)
Long Walk 39
Vermont 24
VABroker 18
estatereal 18
Trouble 14
Lucky Leonardo 10
MissionJoe 8
TheTexasGal 6
David Hunter 6
Gamin' Agent 5
Nasser 5
Mr. Clean 5
Mayra Kelley 4
RonnieEmz 4
Featured Member
Registered: 08/02/07
Posts: 227

How To Advertise Here

This site presented by RNC Internet Services