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:
Slab foundations basically are just flat hardened concrete on top of 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. Having a slab foundation provides certain advantages, like there are typically no creaky floors in them, and the doors have less issues than with other types of foundations.
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. 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. A typical question you will be asked is if your home was built on a continuous concrete foundation. Another query will be if there are any cracks or any erosion on your foundation. Most insurers will only insure homes if they are built on a foundation. Homes not built on a foundation, like most modular and mobile homes and some older homes, will need to be insured by a specialty provider as they present a unique risk.
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. 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. In cases where the foundation is in bad condition, your home insurance may not cover damages that are a result of that.
Slab foundations basically are just flat hardened concrete on top of 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. Having a slab foundation provides certain advantages, like there are typically no creaky floors in them, and the doors have less issues than with other types of foundations.
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. 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. A typical question you will be asked is if your home was built on a continuous concrete foundation. Another query will be if there are any cracks or any erosion on your foundation. Most insurers will only insure homes if they are built on a foundation. Homes not built on a foundation, like most modular and mobile homes and some older homes, will need to be insured by a specialty provider as they present a unique risk.
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. 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. 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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