Homeowners Insurance And Mold

In recent years people have become quite scared of the prospect of having mold in their homes. Some home loans cannot even be approved if mold is detected on a property, and there are a lot of horror stories floating around about homeowner’s insurance policies refusing to pay out on mold claims and the high expense of repairing mold damage once it sets in.

Take for example the story of one young Northern California family who was in the process of purchasing a new four bedroom, two-story home. The home had undergone a foreclosure and was being sold by the bank, so it hadn’t been lived in for several months. The couple fell in love with the house, put down a deposit, anHome Insurance Moldd began the process of getting the home inspected for processing of the bank loan.

Because the home was connected to city water, the home inspector called to have the water turned on at the home. What the inspector didn’t know, however, was that someone had left the faucet in the upstairs bathtub on with the drain stopper in place. Two days later when the inspector arrived to look at the house, the water had flooded the bathroom and run down the walls of the ground floor living room and dining room below, soaking all of the carpet in the upstairs and downstairs. The drywall had buckled and bubbled, collapsing under the weight of 48 hours of continuously running water.

The house sat for nearly a week before a claim was filed and cleanup work could begin. Mold and water saturation had already crept in. The walls and carpeting were torn up and workers dried out the house with industrial fans for weeks before finally repairing the walls, carpeting, and repainting the interior of the house. The couple had to walk away from the sale, even though all of this work had taken place at the bank’s expense. Why? Because every mold expert they called told them there was no way to completely get rid of the mold in a case like that, and it could return or get worse and cause further problems down the road. Mold, while usually harmless, can still cause structural damage and problems for people with breathing issues such as asthma or allergies. It can also affect the future resale value of the home, as most disclosures require you to report the presence of mold.

Whether mold is covered by a homeowner’s insurance policy depends on the source of the moisture and the wording of your policy. A separate mold rider can be purchased, and usually costs around $500-$1500. If mold results from an accidental situation that’s already covered by your policy, such as a pipe bursting in the example mentioned, the mold remediation cost should be covered. Flood damage is different and covered by a separate policy, however.

Most basic homeowner’s insurance policies exclude coverage for damage caused by mold, fungi, and bacteria, but that doesn’t mean a mold claim will be automatically denied. Claims will usually only be rejected if mold is caused by neglected home maintenance on the part of the owner or situations such as long-term exposure to humidity or repeated water leaks. Mold claims can be expensive for insurers, with the average claim falling between $15,000 and $30,000, causing many states to adopt limitations on mold coverage. Amounts vary, but a typical homeowner’s policy might cover between $1,000 and $10,000 in mold remediation and repair. They only way to make sure you are covered is to speak with your agent and go over your policy.

Click here for a free Arizona Home Insurance quote and see if you can save more today!!

Tags: , , , , , , ,

79 Responses to “Homeowners Insurance And Mold”

  1. DAVE says:

    .

    Buywithout prescription…

  2. LYNN says:

    .

    Buygeneric meds…

  3. JOSHUA says:

    .

    Buygeneric drugs…

  4. RAYMOND says:

    ..

    Buynow it…

  5. FREDDIE says:

    ..

    Buygeneric meds…

  6. JULIAN says:

    .

    Buygeneric drugs…

  7. MITCHELL says:

    Buygeneric pills…

  8. LEE says:

    Buygeneric drugs…

  9. JAVIER says:

    Buyno prescription…

  10. JESSE says:

    .

    Buyno prescription…

  11. TRACY says:

    .

    Buygeneric meds…

  12. KEITH says:

    Voltaren

    Buygeneric drugs…

  13. SHAWN says:

    Clindamycin

    Buywithout prescription…

  14. SAM says:

    Yaz

    Buywithout prescription…

  15. SHAWN says:

    Xalatan

    Buywithout prescription…

  16. EDWARD says:

    Yaz

    Buywithout prescription…

  17. DAVE says:

    Zyrtec

    Buyno prescription…

  18. RONNIE says:

    leg swelling lasix

    Buyno prescription…

  19. DONNIE says:

    yaz plan b

    Buydrugs without prescription…

  20. ADAM says:

    Zyrtec

    Buygeneric meds…

  21. BRYAN says:

    side effect of zoloft

    Buyno prescription…

  22. JEFF says:

    Prozac

    Buynow it…

  23. MANUEL says:

    Omeprazole

    Buygeneric pills…

  24. AUSTIN says:

    risperdal and luvox loss of libido

    Buydrugs without prescription…

  25. ALFONSO says:

    Pyridium

    Buydrugs without prescription…

  26. CLINTON says:

    Purim

    Buyit now…

  27. MATTHEW says:

    Buyno prescription…

  28. FREDDIE says:

    Buynow it…

  29. JOEY says:

    .

    Buywithout prescription…

  30. ROGER says:

    ..

    Buywithout prescription…

  31. CARLOS says:

    Yaz

    Buygeneric pills…

  32. KARL says:

    .

    Buyit now…

  33. WENDELL says:

    Buywithout prescription…

  34. DOUGLAS says:

    Buyit now…

  35. JEREMY says:

    ..

    Buyit now…

  36. DANNY says:

    Buyno prescription…

  37. RONALD says:

    ..

    Buygeneric meds…

  38. CHRIS says:

    ..

    Buygeneric drugs…

  39. CLAUDE says:

    ..

    Buygeneric drugs…

  40. RODNEY says:

    Buygeneric drugs…

  41. ALAN says:

    .

    Buyno prescription…

  42. NICK says:

    .

    Buyno prescription…

  43. EUGENE says:

    Buywithout prescription…

  44. KEITH says:

    Buyit now…

  45. JIMMIE says:

    .

    Buyit now…

  46. ROBERT says:

    ..

    Buygeneric drugs…

  47. HARVEY says:

    .

    Buygeneric drugs…

  48. CLIFTON says:

    ..

    Buyit now…

  49. MARK says:

    ..

    Buyit now…

  50. ELMER says:

    Buygeneric pills…

  51. DON says:

    Buygeneric drugs…

  52. MARCUS says:

    ..

    Buynow it…

  53. WARREN says:

    Buyit now…

  54. MAX says:

    ..

    Buynow…

  55. RICKY says:

    .

    Buygeneric drugs…

  56. WESLEY says:

    .

    Buygeneric drugs…

  57. EDDIE says:

    Buygeneric meds…

  58. ROSS says:

    ..

    Buygeneric drugs…

  59. SALVADOR says:

    ..

    Buyit now…

  60. GERALD says:

    .

    Buyit now…

  61. JULIO says:


    BUY CHEAP INDIAN DRUGS : -==== Anti Depressants Drugs ====-

    Purchase Unique Pills Now!…

  62. Leena says:

    footwear

    It is appropriate time to make some plans for the future and it’s time to be happy. I have read this post and if I could I want to suggest you few interesting things or suggestions. Maybe you can write next articles referring to this article. I wish t…

Leave a Reply