Mold damage is one of the most commonly filed insurance claims. These types of claims are often current issues that happen unexpectedly and need to be mitigated right away.
Residential mold insurance claim
Mold, a type of fungi is nature’s way of recycling. As a matter of fact, mold simply works as a benefit by breaking down dead materials. It is dangerous to our homes and overall health. For instance, by producing tiny spores that become airborne, mold can spread throughout a home within 2-4 days of a wetting occurrence. In order to continue to grow, mold colonies simply need three things, moisture, oxygen and material. When dealing with a mold insurance claim, property damage of items such as wall materials (drywall), wood framing, baseboards, flooring, insulation, air ducts & HVAC systems and other interior finishes are some of the many concerns one should have.
Moreover, measuring high moisture levels is important in properly identifying mold. Removing unsalvageable materials, containment, mold remediation, & post- remediation repairs may create larger obstacles to the simple apparent cosmetic damage to finishes that an insurance company’s adjuster may just consider.
Due to personal property damage to cloths, furniture, electronics, and items of sentimental value, property owners are faced with the delicate and emotional toll that the damage to can take on one whose house has been overtaken by mold growth and infestation. Displacement of one’s home in many cases is the biggest loss to someone dealing with a mold claim. Navigating and understanding the process of a mold insurance claim may be overwhelming. For this reason, the assistance of an experience and qualified public adjuster can prove to be essential to the policyholder.
Common symptoms of mold in your home
Allergies, asthma attacks and other respiratory issues.CoughingItchy & watery eyesExposure to toxic substances produced by some mold cultures.Dizziness & fatigueDifficulty focusingItchy and dry skin
Areas where mold may be present:
Drywall (plaster walls are more resistant to mold growth)Carpets & carpet padsInsulationWood framingWall paper & other wall coverings
Tips for residential policyholders during a mold insurance claim
-Ensure the safety of yourself and other occupants
-Always wear PPE (personal protective equipment) goggles & N100 respirators
-Take initial photos and a list of damaged property (Interior & Exterior of building)
-Locate your property insurance policy (hardcopy & PDF if possible)
-Immediately take steps to prevent further damage.
-Provide prompt notice of loss to your insurance company
-Develop a plan and claim management strategy with your public adjuster
Does my insurance cover mold?
In many states mold coverage can be purchased as an endorsement, however, we have found policies in other states that include mold insurance claim exclusions in their policies. Mold coverage is typically provided with limitations of coverage within or in addition to dwelling coverage. For example, a mold limit of $10,000 or $50,000. Some policies also have mold aggregate limits. Presenting a mold insurance claim to an insurance carrier requires careful analysis and interpretation of the insurance policy. A clear understanding of the cause of the mold growth should also be determined.
Management strategies for mold insurance claim
Mold insurance claims can vary in many ways. When consulting with your public adjuster, a plan should be developed with the following questions.
What is the cause of the mold?
What is the extent and scope of damages to my property?
What is the initial proposed cost to remediate my mold?
What materials and areas need to be removed?
Does any of my property damage need to be brought up to code?
Do you have an estimated timeline for the period of repairs and restoration?
What are benefits under the insurance policy contract?
What are my duties and conditions under the insurance policy?
How long will it take to receive any payment for my claim?
Should I make arrangements for temporary living?
Do I have damage to personal property such as clothing and furniture?
How do I keep my tenant?
Do I have coverage for “Loss of Use” or “Additional Living Expenses”?
How long can my claim settlement take?