Is Mold Damage Covered by Homeowners Insurance?

1/31/2022 (Permalink)

Mold damage can often occur after a water leak.

Discovering mold in your home can be stressful. Not only are there concerns about safety and unsightliness, there are quickly worries about the cost of mold removal. One of the most obvious concerns is how much of the cost will be covered by homeowner’s insurance - and how much you’ll have to foot yourself. If you’re a Union, KY, homeowner worried about whether insurance will help you combat fungus growth, read on for answers.

Costs of Mold Removal

Mold removal itself is no small task. There’s air quality testing, potential removal of damaged goods and even more to consider. In fact, experts suggest the cost of a visit from a mold remediation specialist alone at up to $6,000. Some of the expenses to consider when deal with mold are:

• Inspections
  
• Air quality tests
  
• Remediation
  
• Restoration
  
  

It’s a lot to consider and often a highly unexpected expense. Just how much of this will your homeowners policy cover?

What IS Covered

In general, the average homeowner’s policy will pay for mold damage caused by a “covered peril,” that is, any event that is already covered in the policy. Such perils typically include fire, lightning and in some cases vandalism.

What Is NOT Covered

Unfortunately, the list of circumstances in which fungus growth is not covered is long. If mold resulted from a preventable water leak, for instance, your policy won’t likely pay out. The same is true of high humidity or flooding, which is often covered only under separate flood insurance.

Moreover, if there’s proof that maintenance neglect triggered mold, insurance adjusters balk at paying out. That means if a room was left overly humid and mold grew, it would be on you to pay for it.
Don’t wait until you’re facing active fungus growth the learn whether you’ve got mold coverage. Call a mold specialist today to learn more about mold insurance.