Termite bond costs typically range from $500-$2,500, with an average price of $1,500. These costs will vary based on numerous factors outlined below, according to NFP.
What Is A Termite Bond?
Because homeowner’s insurance policies do not cover any termite damage, homeowners are responsible for their pest control needs. They must find a pest control company and invest in a form of insurance known as a termite bond. This is a contract between a homeowner and company where the company agrees to provide a variety of termite services for an annual fee.
The terms of the bond will undoubtedly vary based on a few factors, including the provider and location. Nonetheless, a termite bond is available to protect your home from infestations.
A termite bond typically includes the following:
- Initial termite prevention when the bond begins.
- Annual inspection.
- Treatment at no additional cost, if needed.
- Bond renewal occurs frequently following inspections.
*Contact the team at Poor Boy Termite Control in Scottsdale, AZ for more information!
How Much Does A Termite Bond Cost?
As mentioned, bond prices will vary based on location, provider, and length of the contract. Other factors include termite warranty cost, prevention coverage, and whether the bond is transferrable.
Purchasing this insurance is often much less costly than having to deal with repairs due to termite damage. Here is a quick breakdown of termite bond prices:
- Lowest cost: $500.
- Average cost: $1,500.
- Highest cost: $2,500.
Types Of Termite Bonds
Termite warranty types do include both transferable and non-transferable bonds. Every type of bond is also categorized as a termite treatment bond, termite repair bond, termite treatment or prevention, and repair bond.
Transferable bonds are great for homeowners who are considering selling their home. Sometimes, a transferable termite warranty is required of new home builders to provide potential buyers the guarantee that the home and surrounding area was sprayed to kill any termites. Transferable and non-transferable bonds are ultimately there to protect the homeowner, or apartment/condominium dweller.
Why Do You Need A Termite Bond?
These bonds are legal contracts agreed upon by homeowners and pest control companies. The bond contract will contain important information about the provided services, a schedule for said services, as well as details on all terms and warranties.
Bonds are ideal when you live in the southern U.S. where the climate is perfect for these pests. Bonds are also worthwhile investments if your home has a history of infestations.
What Is Not Considered A Termite Bond?
Termite bonds are not the same as letters, which are also referred to as Wood Infestation Inspection Reports. A clean letter is typically required by a lender before closing on a home sale. Meanwhile, termite warranties, are only a requirement by local, regional, or national agencies for select home builders. These can be requested of homeowners by home buyers as a condition of the sale.
These warranties are not insurance, although they do provide insurance in a different way. Termite warranty agreements, like insurance products, have terms and conditions that are presented in the termite warranty contract before signing and purchasing. Termite bonds provide insurance against damage but are not considered an actual insurance product.
Conclusion
Termite bonds usually all stipulate that the pest removal company monitors the effectiveness of termite treatment and states that the company will include free re-application should termites appear prior to the end of the bond term.
Most people tend to believe homeowners’ insurance covers termites. Unless pest control was specifically offered as a rider to your insurance policy, though, it is typically not covered. It’s no secret that termites can cause extensive damage, so some type of protection from these pests is certainly needed.
Termite Control Phoenix Metro Area
Poor Boy Termite Control can solve all of you termite issues. We only deal with termites as the name implies. We use thermal imaging, with no drilling or guessing. At Poor Boy Termite Control we detect termites and treat them. If you have a termite infestation, Call Poor Boy Termite Control at (480) 994-4240 and schedule an appointment before the problem gets worse!
