Our state is a paradise for mold thanks to the temperate climate and high levels of humidity. But while mold is thriving in nature, it is something that no one ever wants to find inside their home.
Mold can be toxic and harmful to your health if it is left untreated and allowed to spread. When mold is found in your home, it can be very expensive to repair. Most people think mold damage is covered by homeowner’s insurance, but in many cases, it is not. And this assumption can be a costly mistake. Scroll down to understand mold damage and homeowner’s insurance claims.
Mold and Homeowner’s Insurance
Mold damage is serious and needs to be taken care of immediately due to its harmful health effects but did you know many basic homeowner’s insurance policies exclude mold coverage? And if you are covered it oftentimes comes down to the source of the mold and the wording of your individual policy.
What is typically covered under most insurance policies?
Policies typically cover only mold damage that resulted from sudden and accidental covered perils. A covered peril is something that causes damage or loss to the property, such as:
Vandalism
Most policies exclude certain perils such as damage from flooding, earthquakes, pests, and basic wear and tear. Flooding is common in Tampa, so if this is a concern for your particular property it is important to look into additional flood insurance.
For example, mold that resulted from a burst pipe—which is most often considered a sudden and accidental covered peril—will be covered as long as it was mitigated properly. The reason for the insurance claim would technically be the burst pipe and not the mold itself.
Why Might My Insurance Claim Be Denied?
Mold claims are more likely to be denied if the mold is caused by neglected home maintenance. In other words, if the policyholder feels a homeowner does not do their duty to prevent or mitigate home maintenance issues such as roof leaks, leaky plumbing, and long-term exposure to humidity, it’s very likely that insurance will deny coverage.
Add to that that the full extent of mold damage may be well hidden in the walls, insulation, or even inside cabinetry, even when not denied outright, it is common for mold insurance claims to be undervalued if you don’t have an expert who knows what to look for.
Should I Consider Extra Mold Coverage?
Mold coverage is a common policy add-on in high-humidity states like Florida where the probability of mold contamination is higher. Most homeowner’s insurance policies cap mold removal, remediation, and repair payouts at around $10,000, but with an optional mold rider insurance coverage can typically go as high as $50,000.
Before you decide to pay for additional mold coverage make sure you consider:
your property’s age and condition,
its propensity to moisture,
its proximity to nearby water,
the current value of the property.
Additionally, depending on your home’s location you may want to consider getting separate flood insurance. In the instance of a flood, which is not uncommon during and after a hurricane or tropical storm, you will be able to file a mold damage coverage.
Prevention is Key
Since Florida is already a mold-prone state, it is important for homeowners to be proactive, when possible. Of course, you cannot prevent hurricanes or burst pipes, but you can possibly reduce the chances of mold growth occurring with some routine property care. This will limit insurance’s argument that the damage could have been caused by anything other than the covered event.
Follow these tips to help keep mold at bay and maintain your property:
Have proper ventilation throughout your home (ex. install exhaust fans and ceiling fans in the kitchen, laundry room, and bathrooms)
Use a dehumidifier in areas with excessive moisture to control humidity levels
Regularly clean out your gutters and inspect/maintain your roof
Inspect and replace hoses to household appliances such as the dishwasher and refrigerator every five years
Periodically check hard-to-see areas for mold dampness—crawl spaces, cabinets under sinks, and laundry rooms
We Are Ready to Handle Your Mold Claim
When it comes to mold and homeowner’s insurance it can be complex and confusing, especially when many insurance policies have strict exclusions. It’s common for property claims to be undervalued since the full extent of mold damage is generally hidden in the walls or inside cabinetry.
The public adjusters at Liberty Insurance Adjusters will comb through your policy and will work hard to get a fair settlement for your property claim. We can work with you at any stage of the mold damage claim from start to finish or even reopening a denied or undervalued claim. You can trust us to with your insurance company to get your repairs covered.
If you have a mold issue in your home and need assistance with your claim, please contact Liberty Adjusters. We manage your mold insurance claim in the Tampa Bay area and beyond. Call us at 813-922-5129 for your free claim evaluation.