Most people want their homes to be safe, comfortable, and as free from potential hazards as possible. The presence of mold can cause damages to property and pose health risks to a homeowner and their family. Does a homeowners insurance policy cover mold? In this article, we discuss mold coverage within homeowners insurance policies.
An Introduction to Mold Concerns and Homeowners Insurance
While mold can present an issue virtually anywhere, homes located in areas with high humidity or moisture are more likely to experience mold issues. Mold is more than just an eyesore; it can lead to structural damage and even respiratory problems. It is therefore important to understand whether a homeowners insurance policy covers damages resulting from mold.
Mold Coverage in Homeowners Insurance Policies
Although the terms, conditions and exclusions of each policy will differ, most homeowners policies provide limited coverage for mold damage. For example, mold resulting from sudden and accidental water damage may be covered while mold growth resulting from neglect or poor maintenance will likely be excluded. In other words, mold damage caused by a covered sudden peril like a burst pipe, may be eligible for coverage. However, mold damage resulting from chronic leaks, neglect or high humidity would likely be excluded.
It is very important to carefully review the terms and conditions of the homeowners policy to understand if any mold damages are covered. Some insurance companies may offer endorsements or riders (usually for an additional cost) that can be added to a standard homeowners insurance policy in order to provide coverage for mold-related issues.
Nipping It in the Bud: Mold Prevention and Maintenance
Prevention is key. Taking proactive steps to prevent mold growth can go a long way in helping to safeguard a home. Regular home maintenance practices such as fixing leaks promptly, ensuring proper ventilation, and managing humidity levels can help reduce the risk of mold development.
Making a Mold Insurance Claim
Knowing how to navigate the home insurance claims process is helpful in the event of mold growth in a home. Initiate this process by reporting the claim to the insurance company (this can usually be done by phone or online). Documenting the extent of the damage with photographs and detailed descriptions is very important.
An insurance adjuster should be assigned to your claim and will assess the situation. The adjuster will review all pertinent information and analyze whether the claim is covered under the terms of the specific home insurance policy.
Understanding Mold Exclusions in Homeowners Insurance Policies
Does homeowners insurance cover mold? While the terms, conditions and exclusions of each homeowners insurance policy will vary, mold damage is generally excluded from coverage. Some homeowners policies may provide limited mold damage coverage if it is caused by a sudden and accidental covered peril (e.g. a burst pipe); however, mold damage resulting from neglect, flooding, and humidity will likely be excluded. For instance, if the mold results from ongoing maintenance issues, it will typically not be covered.
It is very important to review the policy carefully. If potential mold risks in a home are a concern, supplemental coverage options or endorsements may be available.
Helping to Secure Your Sanctuary: the Conclusion
Homeowners should take proactive measures to help protect their homes from mold hazards. Regular maintenance and preventive measures can help minimize the likelihood of mold growth.
It is important to take the time to review any existing or potential homeowners insurance policy very carefully. If something is unclear or you don’t understand the coverage, contact the insurance company for clarification. The insurance company should be able to provide guidance on homeowners insurance coverage, exclusions, endorsements and the availability of supplemental coverage.
At Acrisure, we understand the importance of maintaining homeowners insurance. Contact us today to learn more about your homeowners insurance policy options and how we can assist you in finding the right coverage for your home and family.