Insurance Companies Don’t Cover Radon Mitigation But Experts Say That’s No Excuse
Photo provided by Health Canada
If your home has high levels of Radon, it needs to be fixed before it’s too late.
As part of Radon Awareness Month, My Muskoka Now.com spoke with several insurance companies and experts on the cost of mitigating high Radon levels in your home.
According to insurance companies, the Co-Operators, Intact Insurance, and Vasey Insurance, there is no policy in place to help homeowners skirt the cost of reducing Radon levels in the home. But Bob Wood, the owner-operator of Mr. Radon, says any home with a Tarion Warranty will have Radon coverage for seven years. Wood explains that from an insurance company perspective it makes sense to not have a policy for Radon because that is yet another cost on the homeowner and every single claim would be different.
Wood expressed that regardless of having coverage it is important to do everything you can to reduce Radon levels in your home. “Radon is radiation,” says Wood trying to emphasize the importance of testing and mitigating. Wood believes that less than six per cent of people have their homes tested, and of those to test their home, he says 50 to 60 per cent of them don’t do anything about it after the test is done.
Wood says that in his years of Radon mitigation he has come across countless people that will not do anything about the Radon, saying that many believe that if it’s in one area of the home they are not in danger as long as they don’t go there. Wood uses the analogy of a glass of water that you drop food colouring into, although it takes time for it to spread out it is going to spread and cover the whole glass.
Wood says the cost of getting a sub-slab depressurization system varies from house to house but averages out to just under $3,000.