Asbestos Abatement
Definition:
The process of safely removing or containing asbestos materials from a property.
Explanation:
Because asbestos is hazardous, insurance coverage for abatement may be limited or excluded. Claims often depend on whether the damage was caused by a sudden, covered event.
Example:
If a fire damages an older home with asbestos insulation, asbestos abatement may be required during repairs and could be covered under the claim.
Why it matters:
This term affects how claims are handled and what payout a homeowner may receive.