Asbestos in vinyl- insurance question

[vanlassie]

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

[sinkingfeeling]

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

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

[vanlassie]

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

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

[jeff47]

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

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.

[ret5hd]

4. Take the vinyl out yourself.

Replace it and be done with it and pocket the difference.

[vanlassie]

5. Thanks for the advice... All good!

[vanlassie]

6. Now I'm thinking that I could leave it, and then prior to any future sale,

Disclose it to a free lance floor guy to replace who might not be that concerned since it actually is NOT really hazardous and then it's done.