Termite damage costs American homeowners an estimated $6.8 billion a year, according to the National Pest Management Association, and almost none of that cost is covered by a standard homeowners insurance policy. That gap matters because termite damage is rarely a single event. Because standard homeowners insurance treats termite damage as a preventable maintenance issue rather than a covered peril, the repair bill typically falls entirely on the homeowner. Georgia and Florida homeowners are typically dealing with more than one termite species, which complicates identification. Why Prevention Beats WaitingThe timeline for termite damage is part of what makes prevention the more economical choice.