Thursday, July 17, 2008

Termite Bond--A Good Thing To Have Or Not?

We built our home some years ago and usually with a newly built home you get a termite bond, which you renew yearly.  You pay them, they come around to spray whatever around the base of your home, and for another year you are covered in case your home becomes damaged from termites.  If you miss a yearly payment, then you need to pay a higher fee (usually A LOT higher) to reinstate it.  So as usual we just paid our yearly termite bond, which is $110.00 a year.

But since I mailed out the check a couple of days ago I've been thinking what's the point.  The termites were just swarming a week or so ago.  The termite bond and spraying doesn't really stop that.  All it does is say if you get termites when you have a termite bond, then we pay up to a certain amount to replace the damage.  So really it's insurance that isn't even required.

There are other things that make me want to cancel it.  We have a concrete block home.  The only wood on our home is our roof, roof supports, and interior walls.  It seems pretty unlikely that we would have termite damage when there are other homes around us that are completely wood.  Could it still happen?  Sure.  But it's just not as likely.  It's probably more likely to blow off with a hurricane than it would be to be destroyed by termites. If something did happen to our roof, then we would be replacing it with a metal one.  We do have wood mulch in the front yard, but we are going to be switching that out to stones little by little.  

So even though it is a little late for this year, I think I'll be canceling our termite bond next year even though it's only $110.00 a year or $9.16 a month.  $9.16 is one well-planned meal per month from the grocery store for my family.

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