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Does Homeowner's Insurance Cover Mold Damage?

3/12/2019 (Permalink)

Mold Remediation Does Homeowner's Insurance Cover Mold Damage? Mold found in an Essex County home

Some homeowner’s insurance does cover mold. However, the mold covered under insurance must fall under covered peril. The language of your policy includes the conditions qualifying for a covered peril. 

Keep in mind, insurance companies limit the amount of coverage they offer so that additional coverage may cost a lot more. Again, it all depends on your insurance policy stipulations. There are also different types of claims to consider depending on your status as an owner with tenants or the owner or renting party.

First Party Coverage Claims

When you have mold in your home and make a claim with your insurance company, it’s known as a first-party property claim. You must be the policyholder to receive insurance coverage for the claim.

Third Party Coverage Claims

If you rent a home or apartment and your tenants file an insurance claim for mold, this falls under the third-party claim.

Tips for Dealing with Mold Damage

Whether insurance covers the mold in your home, you must address it as soon as possible. Allowing it to grow can lead to health problems, such as respiratory issues, throat irritation, and others. Mold thrives in moist areas. If your home has vulnerabilities to water leaks, you must address the incident within two days. Doing so can mitigate some of the health risks and property damage brought on by mold.

Other Tips for Handling Mold

The best way to handle mold is to prevent its growth at the onset. You can limit mold growth by doing the following:

  • Use air humidifiers and air conditioners to keep air moisture between 30 percent and 60 percent
  • Do not place carpets or rugs in damp areas such as basements
  • Fix small leaks immediately
  • Inspect faucet fixtures and nozzles under sinks and toilets to check for leaks

There are several measures you can take to decrease the chances of mold growth. It is especially important in humid states where moisture collects easily in different parts of the home.

Do you need more information about dealing with mold damage or mold remediation? Our trained mold specialists at SERVPRO of Salem/Peabody/Marblehead offer 24-hour emergency services. Using the most advanced technology, our team keeps the mold from spreading any further damage.   Call us today at 978.744.4545

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