mold insurance coverageWhen determining how much mold insurance coverage you need, it’s important to know the facts and evaluate your needs. You can have a water damage insurance claim without having a mold insurance claim, but you cannot have a mold insurance claim without having a water damage insurance claim.

Mold needs moisture in order to grow.  The critical factor which will escalate a water damage claim to a water and mold insurance claim is time.  Time between the onset of the water event to the time it is discovered and action is taken to stop the leak and dry the area.  Time is of the essence because mold can start growing within 24 to 48 hours following a water event. If the leak is not discovered within this time, mold will set in and grow over time, especially in a damp environment.

As far as insurance companies are concerned there are two main types of plumbing leaks – those that happen suddenly, such as a leak from the ice-maker water line, or the drip-by-drip of a plumbing leak under the sink or inside the wall.  Some insurance companies may treat each situation differently.  Some will argue and deny a claim on the basis that the damage took place over a long period of time, meaning greater than two weeks, rather than damage from a “sudden leak that happened within two weeks.

Buying home insurance should be done with the greatest care. Do not hurry, compare policies and read the fine print.  Most policies include a limited amount of mold coverage, usually $10,000, which may or may not be enough.  Other policies allow for the purchase of greater mold insurance coverage.

When shopping for home insurance, do not neglect mold insurance coverage.

Besides basic insurance, you should weigh other factors, such as living in an area prone to flooding, living in a hurricane prone area, or near the water to determine your needs and comfort level for water and mold insurance coverage.

Finally, select a reliable insurance agent and an established insurance company with a good rating.  Do not wait for a disaster to happen before reviewing your coverage.  Re-evaluate your coverage yearly.

Written by Charles & Danielle Dobbs – Professional mold assessors, expert witnesses, authors of several books on mold, and mold education bloggers

Charles & Danielle Dobbs - Professional mold assessors, expert witnesses, authors of several books on mold, and mold education bloggers

Professional mold assessors, expert witnesses, and authors of MOLD MATTERS- SOLUTIONS AND PREVENTION, MOLD PREVENTION TIPS FOR THE GREEN BUILD INDUSTRY, and INSPECTION AND SAMPLING METHODOLOGIES FOR TRAINING MOLD ASSESSORS.

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