Mold Coverage & You…
Wednesday, November 10th, 2010Just had one of my insureds trying to decide whether to have mold coverage or not, so I think that ‘mold’ and the coverage of such may require a little further explanation.
- On most policies mold coverage can be added, but it is usually excluded to begin with.
- Mold includes wet rot, rust, mildew and possibly other variations as a result of prolonged moisture in an area (think of the indoor pool at the gym).
- A home insurance policy that offers or has an option for mold coverage will will have limits stated in the policy. The amount of coverage can vary and it depends on the type of policy and any endorsements that have been added and it will cost additional premiums to add it.
Mold can be caused from many sources where water is present or allowed to stand. A broken water pipe, a leaky roof, or other type of water damage, but preventing mold can be done by good maintenance and clean-up! When water damage occurs cleaned up not only the water, but make sure the whole area is completely dry. If you home fits any of the symptoms, has had past problems with moisture, humidity consistently over 70% or a water leak that was not fixed or not fixed properly you might want to check to see if you have mold.
If you think you might want or need mold coverage on your policy the insurance company may require your home to be inspected by a licensed plumber, insurance adjuster or someone else before allow you to added the coverage.