Your home is 50 times more likely to be damaged by
termites than a hurricane.
In fact, the chance of your home being damaged by termites is over 50% versus 1% of damage by a hurricane. You wouldn’t dream of not insuring your home against wind damage but your odds of structural damage by termites is actually 50 times greater! Maybe that is why most insurance plans do not cover damage from termites or other wood destroying organisms.
There is only one way to protect yourself against termites if you are purchasing a home – have it inspected by a licensed WDO Inspector. The inspector will issue the required FDACS 13645 Form which will identify all types of wood destroying organisms found or alert you to conducive conditions in the home. Do not rely upon the Realtor’s assurance you do not need a WDO inspection because the home has a transferrable termite “bond”. Many realtors are confused in this regard. First, there is no such thing as a “termite bond”; there is only a guarantee or warranty which is issued by the pest control company – “bonds” are issued by surety companies. Again, most termite guarantees only cover new infestation by eastern subterranean termites (some do cover other termites/beetles) and there are different types of guarantees – retreatment only or retreatment and repair. There are different levels of financial responsibility such as “up to $50,000” or “up to $100,000”, etc. If you are going to rely upon a transferrable guarantee, make sure you understand what you are getting!