Does Insurance Cover Mold?
Agencies will cover mold issues due to accidental damage.
Know YOur Policy and Coverage
Mold damage in your home or business? You might want to check with your insurance company to see if that is covered. There are many companies that cover certain mold damage or none at all. Insurance companies over the years have been changing their mold policies, including companies in 44 states.
Companies will cover mold issues due to accidental damage. Broken pipes, storms, and fire suppression efforts are what the companies consider accidental damage. Seepage, wear and tear, and not doing proper maintenance in your home that cause mold, the insurance companies will not cover.
Normal coverage for damage is between $5,000 – $10,000. You can purchase what they call a rider policy which will cover the mold in your home. There are exclusions for mold that include wet rot, rust, and mildew. An exclusion is all damage related to mold, but will only cover a certain amount when it comes to expenses.
Checking into your policy for coverage of mold is definitely a good idea before turning it in and being disappointed.