Home ownership brings with it much responsibility. Suddenly, you’re concerned about things like carbon monoxide detectors, mold and mildew and homeowners insurance. If you live in a damp climate or one that tends to have humid summers, you may be wondering if there is protection from mold.
What You May Not Know About Mold
- Over 30% of brand new homes built contain mold of some type
- In the past five years, there has been a 200% increase in defect mold litigation in construction
- According to the EPA, 100% of all mold types have the potential to affect health
- Mold remediation can cost between $2,000 and $30,000 per incident
Are Some Homes More Prone to Mold?
Certain homes are more susceptible to mold than others. One contributing factor is the age of your home. Homes built in the past 30 years are more energy efficient, but don’t “breathe” as well as older homes, increasing the risk of mold.
Recently, however, builders began using mold-resistant wood, drywall and paints to help prevent its growth.
Another contributing factor is location. If you live in a humid climate, your home is more prone to mold. Southern states with very humid climates such as Texas, California and Florida often have high-profile mold cases.
Is There Such a Thing As Mold Insurance?
Technically, there is no separate mold insurance policy that offers you protection. Your homeowner’s insurance policy may cover mold in certain circumstances. If you have flood insurance, and the mold is due to flooding, your flood insurance may cover the work to remove mold. In addition, some companies now offer riders that offer mold coverage in addition to your general homeowner’s policy.
Determining whether a policy will cover your potential mold claim is not always easy. The good news is that you can get help understanding your homeowners policy from an independent agent in the Trusted Choice network. A local member agent can also help to ensure you have the right coverage in place to protect your home and your possessions.
When Mold Is Covered and When It Is Not
You’ve likely heard a horrific story from a friend, neighbor or family member who had to deal with a case of toxic mold. A discovery like this can turn into an expensive mold remediation process and a battle to have your home insurance claim covered. Not all mold-related insurance claims are denied automatically.
One key to determining whether your claim will be covered is the source of the mold. For example, if the mold occurs because of a sudden event like a burst pipe that led to water damage, the claim may be covered. If the mold is due to neglected maintenance, seepage, or long-term exposure to humidity, your mold claim will most likely be denied.
How and When to File Mold Claims
Even if you take many precautions to prevent it, you may find yourself with a mold problem. In addition to managing the mold remediation process, you may want to file a claim with your insurance company. Consider the following tips below when filing your claim:
- Contact your agent to inquire about any wording in your home insurance policy regarding mold and keep copies of all correspondence.
- Review your policy language, paying close attention to any exclusions and proof of claim.
- Don’t throw away any damaged property; take photos to document mold damage.
If you’re insured through a member agent in the Trusted Choice network, you’ll receive step-by-step guidance in the claims process.
Don’t Let Mold Catch You Unprepared
In many instances, you may not even see the signs of a mold infestation, especially when it occurs in a back closet, basement area or between walls. Letting mold go unresolved can prove hazardous to your home and to your health.
When faced with the prospect of mold remediation, you may wonder if you can handle it yourself. Unfortunately, remediation can be both dangerous and ineffective because of how tenacious mold can be, and the fact that the chemicals needed to conquer it can be as hazardous to you as the mold is.
Although you can’t predict if or when you’ll need mold insurance, it’s best to evaluate the risks in your geographic area with a knowledgeable local professional. Choosing the right insurer and coverage for your home can help you prepare for the unexpected.
Consider using an independent agent in the Trusted Choice network to help you save time and money when looking for the right homeowners insurance for your needs. A local member agent can compare coverage and quotes from several insurance carriers and make sure that you get the complete coverage you need. Contact a member agent today to get personal assistance and answers to your questions.