It seems a damp area, an enclosed environment, and a surface are all it takes for mold to appear in your home. Mold weakens the home’s structure and causes allergic and respiratory issues. It’s a significant issue with Waldron, AR homes, and The Owens Agency LLC has researched the topic to share our findings with you.
Does home insurance cover mold?
Mold coverage in home insurance depends on the carrier and cause. Some carriers will cover it, some won’t, and some will cover you with the correct add-on rider. Carriers who cover mold damage divide causes into sudden and gradual, and home insurance covers only sudden causes. Some acceptable causes of sudden mold damage include burst pipes, appliance issues, ice dams, storm-related roof and window damage, and water damage from fire cleanup. A Waldron, AR adjuster will review the area to determine the cause.
What does home insurance do for mold damage?
If the cause qualifies for home insurance coverage, it will fall under dwelling and personal property coverage. Dwelling coverage pays to repair the affected wall structure in your home. Personal property coverage pays to remove mold from your belongings. Water backup coverage is an add-on that helps with mold damage stemming from backed-up sewer lines, drains, and sump pumps. Hidden water damage is another add-on that repairs mold damage stemming from wall plumbing, hidden appliance lines, and floor plumbing. A third is fungi or microbes coverage; the limited add-on pays for air quality testing and temporary housing. It also pays for removing the fungi/microbes and repairing the affected area.
Mold damage is a controversial topic in the home insurance industry due to the challenges of mold remediation. While we want insurance policies to cover mold damage, it’s not up to us. Still, the agents at The Owens Agency LLC will search our partner carriers’ policies for mold coverage. If your existing policy doesn’t have mold coverage, we will search for alternate solutions. Contact us for more information.
