Mold: A (Growing) Concern

There’s no question that mold is an issue for most homeowners.  You can find it in some form in most every home.

If not treated or removed, it can lead to extensive damage and cause major health issues – especially for people with allergies or asthma.

In recent years, mold has been a touchy subject for insurance companies due to extensive claim pay-outs and costly litigation.  In fact, you’ll find that most homeowners policies now have specific language concerning mold, whether limiting coverage or excluding it altogether.  There are varying degrees of mold coverage available depending on the carrier.  Some companies will offer coverage for mold damage if the problem arises as a result of another covered peril, like a burst pipe.  Other insurance companies have language excluding mold damage in their standard policies, but offer mold riders which can be purchased for additional premium and set limits of coverage.

Bottom line:  Speak with your agent for specific details about what your homeowners policy will (and will not) cover.  An independent agent will take the time to listen to your questions, explain the coverage options and make sure you leave with answers.