Does your homeowners insurance cover your mold damage problem? It depends on what caused the mold. Keep reading to find out what you need to know.
Mold Damage Caused by “Covered Peril”
Mold damage is normally a result of existing water damage. Unfortunately, a homeowners insurance policy will not cover this type of mold damage.
Home insurance policies will, however, cover mold damage caused by a “covered peril.” A covered peril is an event listed on your policy. There are quite a few perils you would normally be covered for under your home insurance. For example, commonly covered perils on a typical home insurance policy are:
- Fire
- Lightning
- Vandalism
- Theft
- Falling objects
- The weight of ice, snow, or sleet on your home
- Water damage from frozen pipes and breakage of pipes
- Water damage from sudden accidental leaks or overflows of water from plumbing, heating, air conditioners, sprinkler systems, or household appliances
Mold Damage Insurance Coverage from Flooding
Homeowners insurance does not cover flood damage. Mold that is a result of a flood is, therefore, not covered by a standard homeowners insurance policy. Flooding usually causes the most severe mold issues. Thankfully, flood insurance coverage can be purchased separately in certain communities. It is backed and regulated by the National Flood Insurance Program (NFIP). Remember, it is in your best interest to purchase a separate flood policy if you live near a flood-prone area.
A flood policy normally covers mold and mildew caused by water damage covered under the flood insurance policy. There are exceptions. It won’t be covered if the mold and mildew could have been prevented or avoided. This could be failing to remediate in a timely manner or the cause of a pre-existing condition. If your home floods and, for example, you fail to clean up the water and prevent the mold from spreading, then your insurance company may have grounds to rightfully deny your claim.
Check Your Insurance Policy Coverage in Detail
Check your policy if you’re in doubt about whether or not your home insurance policy covers mold.
Floods and water damage cause many mold problems. Most home insurance policies, unfortunately, don’t cover water damage caused by a flood. This means you might be out of luck if you don’t have flood insurance coverage.
Look through your home insurance policy for coverages and exclusions. Pay attention to anything pertaining to “water” and “mold.” Plenty of home insurance policies don’t cover mold damage unless it’s caused by a covered peril. Your policy, however, might have a section dedicated specifically to mold, fungi, wet, and dry rot.
Need Help?
Licensed public adjusters are insurance professionals who manage all parts of your insurance claim, from beginning to end. You might want to hire a public adjuster if you have a lot of mold damage and your insurance is being slow. They can ensure you get fair treatment. There’s a lot of wiggle room on mold claims and plenty of things can be open to interpretation.
Public adjusters can help navigate your insurance policy and insurance claim while also helping to maximize your insurance claim settlement. Call Aftermath Adjusters & Consulting today for any questions concerning a mold damage claim.
