DIY & Home Improvement

vanlassie

(5,899 posts) Fri Mar 1, 2013, 03:57 PM Mar 2013

Asbestos in vinyl- insurance question

So I had a toilet flood, insurance estimates etc. They tested the vinyl UNDER the current vinyl in my bathroom, and it contains asbestos. They are intending to replace that vinyl, and therefore will mitigate the underlying asbestos vinyl (circa 1975) BUT here is my question.

They will give me a pay out, and my intention would be NOT to replace the vinyl because it is in perfect condition and only lifted slightly by the shower and this can be recaulked. I would prefer to take that money and use it towards upgrading the floor coverings in the two other rooms that were affected by the flood.

If I take a payout, I am unsure, and not wanting to show my hand to the insurance company, about whether I am required to do the exact repairs they estimated? And then, if I choose not to replace the vinyl containing asbestos (which I am reading is not that big of a deal and overblown as liability costing millions overall) then I will KNOW about it, and then have to declare it in any sale documents once I do sell my home....is this a serious situation if I leave it and declare it?

Maybe this is mainly a real estate question?
Thanks
Vanlassie

6 replies

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Highlight:

Asbestos in vinyl- insurance question (Original Post) vanlassie Mar 2013 OP

Since you will know the asbestos is still in your home, if you sell it, you will have sinkingfeeling Mar 2013 #1

Yeah, there's that. But would every buyer insist on that? vanlassie Mar 2013 #2

You only have to disclose it. You don't have to remove it. jeff47 Mar 2013 #3

Take the vinyl out yourself. ret5hd Mar 2013 #4

Thanks for the advice... All good! vanlassie Mar 2013 #5

Now I'm thinking that I could leave it, and then prior to any future sale, vanlassie Mar 2013 #6

sinkingfeeling

(52,988 posts)

1. Since you will know the asbestos is still in your home, if you sell it, you will have

Reply to vanlassie (Original post)

Fri Mar 1, 2013, 04:05 PM

Mar 2013

to deal with it then. So, it will probably be more expensive at that time.

vanlassie

(5,899 posts)

2. Yeah, there's that. But would every buyer insist on that?

Reply to sinkingfeeling (Reply #1)

Fri Mar 1, 2013, 04:08 PM

Mar 2013

Every house in my tract must have the same vinyl...

jeff47

(26,549 posts)

3. You only have to disclose it. You don't have to remove it.

Reply to sinkingfeeling (Reply #1)

Fri Mar 1, 2013, 04:14 PM

Mar 2013

And the asbestos in the tile isn't friable - in fact it's damn near impossible to get it into a condition where you can inhale it.

Because of that, buyers may not be terribly scared if it's still present.

That being said, my advice to the OP would be to just go ahead and ask the insurance company. I would be astounded if they cared what you spent the money on now. Just keep in mind they won't pay for that flooring to be removed in any future claim.