What Is a Termite Bond & How Does It Work?
Choose an Exterminator
Termite exterminators offer termite bonds--a type of service contract--for home owners that cover extermination services as long as you own your home. Some companies will offer a termite bond before your home is infested with termites, while others will only offer them after your home is infested with termites. Be sure to look at the fine print; check if the bond will still be good if the company declares bankruptcy but is still in business.
Initial Fee
There is large up-front fee for either the initial extermination or for the initial inspection of your home for termites. It will often be in the hundreds of dollars. However, compare that to the cost of replacing all of the wooden structures of a home because of termite damage. According to the National Pest Management Association, termites do $5 billion worth of damage to American buildings every year.
Future Fees
The exterminator then comes to check your home once a year for termites. If they have returned, the company should exterminate them at a fraction of the original cost. There is a yearly fee for the inspection. If you decide to sell your home, you may have to produce a letter of inspection from the company stating the building is free of termites.
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