Does Home Insurance Cover Mold?
It is estimated that around 70% of US households have mold, and these fungi are particularly common in bathrooms, around leaks, and on windows. When mold grows out of control, it can cause a variety of health issues, so homeowners should have it addressed as soon as possible. Unfortunately, mold removal can cost you tens of thousands of dollars. Today, we’ll have a look at whether your Florida home insurance policy covers this issue.
Does a Florida Home Insurance Policy Cover Mold?
The idea behind homeowner’s insurance is that it protects your home from damage that is caused either due to natural disasters or someone else’s negligence. Fortunately, mold is usually covered, but only if it occurs because of one of the perils named in your policy. These might include fire, windstorms and hail, vandalism, ice, and an explosion.
After you encounter a problem with mold, you’ll need to pay for detection, repairs, and cleanup. Your insurance company will pay for some of the damage, but not necessarily all of it. It’s important to keep in mind that you won’t be covered if the mold appears due to a preventable long-term problem. If you knew you had issues with damp in your home and you didn’t do anything to fix it, you’ll most likely have to pay for the repairs yourself.
What Mold Does
If you’ve never had mold before, you might not know why it is such a problem. Although there is also the cosmetic issue of discolored walls and surfaces, the main reason why you need to remove mold is that it can cause health concerns. Many types of molds produce allergens, and some even secrete toxic substances. When you inhale the spores, you might develop cold-like symptoms such as sneezing, coughing, and a skin rash.
But in some people, the effects of mold can be even more drastic because the spores can trigger asthma attacks. As soon as you see discoloration in your bathroom or on your walls, you should call an expert and get rid of the problem.
How Much Does Mold Damage Cost?
Even if your insurance policy covers some of the mold damage, getting it all cleared up can still be expensive, and you should do all you can to avoid mold. Depending on the extent of the problem, you might have to pay up to $30,000, and many insurance companies limit the amount they contribute, or they only pay for one part of the process.
For instance, they might help you with the repairs to your home, but you’ll have to take on the cost of discovery and cleanup yourself. To make sure you don’t get caught out, you should compare various quotes and read the fine print. Speaking to an expert in the industry can also be helpful because they can take your individual situation into consideration and help you choose the best option.
Luckily, most home insurance policies do cover mold damage, but only if the problem is caused by an issue outside of your control. What’s more, the help you receive from your insurance company might be capped at a certain amount. Get in touch with us now at Absolute Choice Insurance to find out which insurance companies can provide you with the greatest value for your money.