The most invasive creature that can turn any homeownership situation from a dream come true to a living nightmare isn’t termites, mice or even Asian beetles: it’s mold. Requiring moisture and food (its favorites being drywall, insulation, carpeting and mattress materials) mold can quickly grow to consume large surfaces and can be extremely difficult to eradicate. Depending on how the mold came to be present, your homeowners insurance policy may not cover the damage.
If left unchecked, mold growth can cause serious health problems for those living in the home, especially those with respiratory issues. Mold can also cause structural damage to the house itself. Cleaning up a pervasive mold growth can be very costly, which is why many homeowners turn to their insurance policy for help.
Whether your home insurance plan will cover any mold damage or clean up depends on how it formed. Standard homeowners insurance policies do not cover water damage or associated issues stemming from floods, or maintenance problems, such as continuous or repeated water seepage or leakage, humidity or condensation problems, or landscaping or drainage problems.
Some homeowners policies do cover certain types of sudden and accidental water losses, including burst pipes, and sometimes sewer back up or sump pump failure if you have that coverage. However, even if your policy covers these types of water damage, some companies have begun to specifically exclude or limit coverage for mold that results.
You should carefully review your existing homeowners insurance policy to find out if any mold situation you may experience is covered. Make sure any water leaks from a persistent maintenance issue are corrected to avoid having your claim denied. If you believe your current policy is insufficient in its coverage options, you may want to shop around for a better insurance plan.
The exceptions some insurance companies have made in terms of mold coverage can be complex and confusing for those who aren’t in the insurance business. That’s why it is so important to speak with a knowledgeable independent insurance agent, who can navigate the jargon of the insurance industry. We can help find you a number of quotes with a variety of coverage options, including protection for mold damage. Contact us today to help you identify your mold coverage options.