Does Home Insurance Cover Mold Damage?

Mold causes homeowners to worry about denied insurance claims. But yet mold can be found anywhere and it’s usually harmless.

Mold thrives in moisture. Problems arise for homeowners when they didn’t detect or resolve persistent moisture resulting to mold growth. This persistent moisture can be caused by flooding, high indoor humidity, or leaky roof or pipes.

Whether or not mold damage is covered by your home insurance, it usually comes down to the source of the moisture. Take time to review your policy; pay particular attention to the part that pertains to water damage. Look for mold limitations or exclusions. If the policy is unclear to you, don’t hesitate to call your agent.

Mold Damage and Home Insurance

Most standard home insurance policies usually exclude mold coverage. But that doesn’t mean that a mold claim will be immediately denied. More often than not, when mold growth is caused by a sudden and accidental covered peril, the remediation cost may be covered. Claims are often rejected if it is caused by neglected home maintenance.

Most policies usually have limitations on their mold coverage. These limitations often vary, but a typical home policy will provide coverage between $1,000 and $10,000 in mold remediation and repair. It’s important to note that mold damage caused by flood is often not covered by insurers. Because of that, homeowners need additional flood coverage.

Additional Mold Coverage

You can opt to get extra mold coverage in addition to your existing home insurance policy. Don’t hesitate to call your agent.

Note that insurance premiums for your additional coverage vary according to your place of residence and the value of your home. You can pay anywhere from $100 to $1,500 for the extra coverage on your policy.

Generally speaking, older homes located in humid climates are more expensive to insure than newer homes in dry climates. Homes that were constructed within the last five years are likely to have mold-resistant woods, paints, and drywalls.

Moisture Prevention

The best way to avoid getting denied claims due to mold is mold prevention. To prevent mold growth, follow these tips:

• Use paints and primers that have mold-inhibitors.
• Clean gutters to prevent overflowing and check the roof for leaks.
• Check hoses and fittings on toilets, sinks, and appliances.
• Decrease indoor humidity in your home using air conditioners, dehumidifiers, and exhaust fans.
• Use household cleaners with mold-eliminating ingredients such as bleach.
• Don’t use carpets in wet areas like bathrooms and basements.
• If your house is flooded, remove and dry carpet, upholstery, and padding within 48 hours.

Proper home maintenance and having the right insurance are the best way to protect your finance. Brad Spurgeon Insurance is an independent agency that specializes in providing home insurance products that you can rely on. Get quoted by us for free. To know more about our offers, call us at (409) 945-4746 or visit us today.