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Mold damage is usually the result of some kind of major water damage or exposure to water. Insurance generally only covers a mold claim if there has been damage caused due to an insured Peril. A broken water pipe, a wind storm that tears part of the roof away and water seeps into the structure. Water damage caused when there is a fire and the home is soaked to prevent the fire from spreading.
Insurance doesn’t pay for Mold claims that happen gradually over a period of time, or damage caused by wear and tear. There are some insurance companies that are changing the terms of their policies and excluding Mold completely. Other insurance companies are making it more and more difficult to collect for a mold claim, and requiring policyholders to report any water damage well before a claim for mold will be considered.
It’s very important to take action if you think your property has suffered any kind of water damage. The proper steps can Mitigate the losses and prevent mold from causing secondary damages. If you suffer any water damage an are at risk for a mold problem be sure to follow these steps:
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- 1. Report any and all kinds of water damage to your insurance company promptly and take mold seriously, some molds can cause serious illness and property damage. Some mold is more dangerous than other mold and not all of it’s the deadly toxic type.
- 2. Learn about mold and mold contamination. Learn to identify the toxic molds or the health effects of mold. Learn which molds are most common in your community.
- 3. Understand your Insurance policy and coverage’s.
Review the “declarations page,” and read the policy itself. Make notes of what’s insured, what’s not. Double check any “endorsements” or attachments that have been made or added to the policy form. Look for any changes that add, limit, or eliminate coverage the policy. - 4. Call your Insurance Agent of Company immediately if you suspect a mold claim. If a homeowner suffers a catastrophic flood or pipe burst claim, getting a claim started and Mitigating the damages within the first 48 hours by starting to dry out the property can be a critical step in preventing mold growth.
- 5. Mitigate the losses and take steps to prevent further damage. Get things dry and call in the experts to help.
- 6. Keep documentation of your loss and claim. Pictures and videotape along with your personal Household Inventory can make claims processing quick and simple. Keep records and contact information for everyone involved with your claim.
- 7. Know your Rights. Understand your state’s laws and statutes. Learn your state and regulations and minimum standards for claims handling. If you face problems contact the state department of insurance or insurance regulator for assistance.
- 8. Cooperate with the Insurance company’s claims investigation and handling. Most insurance policies will require a “sworn proof of loss” form In most states you are contractually obligated to submit the sworn proof of loss within the time limit so be sure you make this step as soon as possible.
- 9. Get expert and second opinions, about the damage and mold you find in or on your home.
- 10. Seek Legal help before you run out of time. All states have statutes of limitation for bringing a lawsuit against an insurance company. If you feel your property is damaged by mold and can prove the cause of the mold is a cover peril be sure to get legal help early and file a lawsuit during the statute of limitations.
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