Homeowner’s insurance is intended to protect you and your residential property in Orlando, FL. However, many insurance policies can be tricky when it comes to covering residential fungus growth. Read on to see whether your homeowner’s insurance policy covers the mold growing in your home.
1. When Does Homeowner’s Insurance Cover Mold?
Your insurance policy protects you against mold if the mold damage was caused by something known as a “covered peril.” These are essentially all the other types of damage that your insurance policy already protects you against.
2. What is a Covered Peril?
Not every insurance policy guarantees coverage against the same types of disasters, but some common examples of covered perils include fires, frozen pipes, lightning, theft, malicious mischief, vehicular damage and some types of water damage.
3. Are There Exceptions to This Rule?
Most companies won’t protect your home if the mold damage isn’t directly related to a covered peril, but there are a few exceptions. You can always purchase a separate mold coverage policy.
4. How Can You File a Mold Insurance Claim?
Simply contact your insurance company to file a claim. Fungus growth can spread very quickly, so you need to do this as soon as possible. Make sure to take pictures to send to the insurance company.
5. How Much Does Mold Insurance Cost?
If your homeowner’s insurance doesn’t include mold coverage, you can always add an endorsement to your policy. This typically costs between $500 and $1,500 annually, depending on your home’s mold risk.
6. How Can You Prevent Mold?
Keeping moisture at a minimum and controlling indoor humidity levels are the easiest ways to keep mold at bay. Mold is attracted to moisture and darkness, so keeping everything clean and dry is an effective prevention method.
Fungus growth is an extremely common issue that many homeowners have to face at some point. Purchasing a separate policy that can help protect your property against mold growth is an excellent idea. Contact your insurance company, or the mold remediation experts at All American Water Restoration, for more information.