A termite bond is a contract between a pest management company and a homeowner which provides a form of insurance which is effective after a pest inspection and treatment. With a termite bond, treatments for recurrence of termites are free for the life of the bond. Not all pest management companies offer these bonds, and the terms of the bond can vary, but they can be very useful for homeowners, especially if people believe that they will be staying in their home for at least five years.
Also known as a termite contract, a termite bond states that if termites recur during the life of the bond, the pest management company will treat them for free. The bond also usually includes an annual inspection for termites, for which the customer may have to pay. Some bonds include extra features like damage compensation, so that if a house incurs damage as a result of returning termites, the pest management company will pay for repairs and replacements.
The cost of a termite bond can vary, but it is usually structured in a way which makes it affordable for homeowners while being cost-effective for pest control companies. When offered a bond, people may want to contrast the price of the bond with the price for a pest inspection and extermination treatment. If the cost of a bond adds up to one such session over the course of 10 years, the bond is probably worth it, as it may very well pay for itself.
When reviewing the terms of a termite bond, homeowners should find out which termite species are covered, how long the life of the bond is, and whether or not the bond is transferable. Transferable bonds are useful so that in the event that a structure is sold, the new owner has the option of continuing to carry the bond. If the bond is transferable, it may be important to know whether or not the property must be inspected before a transfer takes place, and if there will be fees associated with transfer.
Finally, when considering a termite bond, homeowners should ask about what will happen if a pest management company goes out of business or moves. A reputable termite control company will make arrangements to transfer its bonds to another company so that customers experience continuity of service and assurance. A company which does not have such a plan in place may not honor the termite bond, which could be problematic if a homeowner requires an extermination.