There are confusion and misconceptions surrounding insurance claims and mold-related damages. Property owners should be aware that insurance companies don’t always cover mold damages. Although they don’t always say it, these insurers may exclude mold damages from their policies. They may agree to provide coverage, but only with additional premiums.
This could happen in states or countries that don’t specify whether mold damages should be included in homeowner’s insurance. In essence, mold isn’t an entirely new problem. It has caused damages on man-made structures for thousands of years. Mold growth can be considered more serious, because it could cause specific health hazard to occupants.
Public awareness related to mold problems has grown and this results in an increased number of claims. It means that many insurers want to make sure that they are also able to handle claims related to mold. As an example, insurers may refuse to provide payments for homeowners that don’t provide proper home maintenance.
Moisture could build up inside the basement or attic due to poor ventilation or drainage. When it happens, we shouldn’t expect that the insurer will agree to pay. Mold could also overtake the bathroom, if it is rarely cleaned. We should remember that insurance policy is designed to protect our house against sudden losses and it’s not mean to cover lack of routine maintenance.
Mold problems could happen after a severe flooding. This is an unexpected and sudden event. Homeowner’s policy may provide coverage against flooding, but not the aftermath of flooding, such as mold growth. The mold mitigation process after severe flooding can be quite costly and we should make sure that the insurer will pay out the needed expenses quickly, before the problem gets worse.
Water damage could happen due to natural disasters or burst pipes. It is important to know whether the insurance company will pay for mold damages caused by the latter. Water damages can have significant implication, so it is important to make sure that our house is fully covered. We need to take a good look at our insurance policy, to make sure that we are protected.
Mold-related damages could be included in the policy, but there could be a limit on how much damage that the company cover. The circumstance related to mold damages could also determine whether the claim will be paid. The insurance company may also provide cost coverage for mild clean up, but the subsequent restoration and mitigation steps may not be covered. In this situation, we should communicate with the public insurance adjuster and insurance agent to make sure that we are really protected for any kind of problem.
We should as the insurance agent about anything that we don’t really understand about the mold coverage component in the homeowner’s insurance policy. In order to prevent future problems, we should consider how the mold may originate in our house and we should try to mitigate that before applying for the policy. As an example, areas that are flooded easily should have mold-resistant surfaces.