Fungi and mold are ubiquitous. They can be found generally everywhere, even in our homes. Although they seem harmless, these organisms are considered harmful to our homes and have been a problem for homeowners. While some people are not affected by molds at all, long-term exposure, however, can cause eye and skin irritation. On the other hand, mold-sensitive individuals, and people who are immunocompromised are at risk of moderate to severe illness.
Apart from health risks, molds are a threat to our own properties as well. Areas in homes that are high in humidity can serve as a breeding ground of molds. Cellulose-containing properties such as wood, paper and paper coverings of drywall are in peril since the proliferation of molds can damage such properties by gradual rotting. As a result, edifices that could have been resistant to earthquakes cannot withstand when this calamity strikes.
Occasion When Homeowners Insurance Covers Mold Damage
While homeowners insurance can cover mold damage, it’s only in cases where the damage is caused by a “covered peril”. These “covered perils” include fire, vandalism or malicious mischief, theft, falling objects or incidental release or overflow of water or steam from plumbing, heating, A/C, sprinkler systems and household machines or equipment. If that is the case, then home insurance companies will likely give compensation for the costs of the restoration and cleanup.
Instances When Homeowners Insurance Do Not Cover Mold Damage
Many insurance companies added a mold exclusion to their policies, including mold adulteration that was caused by long-term leakage, condensation or water breakage from a defect during construction, gradual damage that happens over time, postponement of maintenance and substandard repair. The majority of insurers had accepted coverage for mold contamination if it is related to a mishap on the closed plumbing system when it was discharged unintentionally – provided that the owner had taken some steps to contain the damage after it was located. Usually, these companies don’t reimburse for maintenance issues if they think that the incident could have been prevented. Therefore, it is expected of these homeowners to actively attend to the problem before filing a claim. The insurance companies anticipate that these owners have taken good care of their house.
Knowing If the Home Insurance Policy Covers Mold Damage
The initial step is to check your home insurance policy for any reference regarding mold claims. A number of insurers provide finite coverage for mold claims, meaning that companies are restricting the amount that they will recompense for any mold-related claims. Sometimes, insurance companies may add the supplementary cost of a home insurance policy if the insured has a coverage related to molds. If the insured doesn’t have mold coverage, he/she can opt to purchase additional coverage to a regular policy.
Do a proper maintenance check on your house. Steps in preventing the growth of molds such as reducing condensation or moisture, controlling its buildup by manipulating humidity levels and fixing leaky roofs, windows and pipes immediately. Lastly, ask your home insurance company if you can include mold-related damage as an endorsement of your facility.