Get peace of mind from regular termite checks

Causing more damage to Australian homes than fires, floods, storms and tempest combined, termites are property enemy number one. And the damage they cause is not covered by property insurance.They may only be the size of half a match head but they have a voracious appetite that would put a Masterchef judge to shame and can devour a home in just three months…

Termites…White Ants… whatever you choose to call them – and regardless of which species are prevalent in your state/region – if they take up residence in an investment property you have a big problem.

According to the CSIRO, there are over 350 species of termites in Australia, of which 20 can damage timber in houses. Damp-wood, dry-wood or subterranean – Aussie termites are highly destructive to both homes and bank accounts.

The Australian Institute of Architects estimates that each year more than 130,000 Australian homes are damaged by termites, with an average repair bill topping $10,000 – that equates to almost $1.5 billion annually. The losses reported from termite damage are five times more than the losses seen from fire, flood and storms combined.

Termites never sleep and will chomp away at any cellulose (wood), including wall and roofing timbers, in a home 24/7. They eat through the centre of susceptible timbers, leaving nothing but a thin veneer of timber and/or paint behind – which also means that they often live in stealth and it isn’t until a thorough inspection is carried out that their presence is uncovered.

Another way an owner tends to find out they have a termite problem, is when the damage becomes obvious and for landlords it is sometimes when the resultant damage has led to a tenant injury.

It is important for both landlords and agents to be aware that property damage caused by termites is not covered in building policies. It is an across-the-board exclusion and means that an owner will be left footing repair costs.

The fact is, termites have been around for more than 250 million years and for every human on earth there is estimated to be 1,000 pounds of termites – and each colony of termites can eat 1,000 pounds of wood a year – which means they aren’t going anywhere anytime soon. So be alert when it comes to termites – they can decimate an investment property before you know it. Insurance but will not use it when a claim opportunity arises.