Homeowners insurance policies usually include vague wording about structural damage especially when it comes to mold. Because of this when you discover mold you can instantly become stressed and overwhelmed not knowing if your insurance will help you repair the damage. Understanding the fine print of your policy isn’t always easy to do on your own so enlisting the help of an insurance claim lawyer may be a great choice. If you’re in the Miami area, Your Insurance Attorney can be the people you need. As experts they can sit down with you to go over your policy, damage, and what may be covered by insurance.
When Will Insurance Cover Structural Damage?
Trying to understand the ways of an insurance company is almost impossible. Even an insurance claim lawyer has to take their time deconstructing each policy to understand the fine print of each one thoroughly. However, there are a few general guidelines to keep in mind when trying to figure out if your insurance will cover the damage done by mold.
Your insurance company will only cover the removal of mold when it is caused by something already covered in your policy, for example, water damage. How the water damage is done will also make a difference. Standard homeowners insurance will protect you from accidental incidents such as a burst pipe. If the excess moisture from this issue caused mold than you’d be able to file a claim to have the mold removal and damage repair covered, some other scenarios that may be covered are if your water heater ruptures, you experience a fire, or your dishwasher breaks and floods your kitchen. If mold ends up resulting from any of these situations your insurance company will cover the damages done.
Even though your insurance may cover some of the damage and mold removal, it may not cover the entire thing. Mold could end up costing between $15,000-$30,000 in damages and removal. Because of this, insurance providers have implemented many clauses to protect themselves from these types of claims. One way they do this is by placing a limit on the amount they’ll pay for mold damage, typically between $1,000-$10,000, even if something covered in your policy causes it. There is always an option to add more coverage to your policy, but it can be expensive especially if you’re in a mold-prone state.
If mold is caused by your own neglect your insurance company will deny your claim. For instance, if you notice a leak, but fail to do anything about it because you don’t think it’s a big deal, but later get mold because of it your insurance will definitely deny your claim because they will say that you were negligent in failing to report the leak immediately. If mold is caused by regional flooding that also would not be covered by your insurance because flooding is a threat excluded from homeowners policies. Unless of course, you purchased separate flood insurance than the mold removal and damage repair would be covered under that.
Your Insurance Attorney is an insurance claim lawyer located in Miami. We specialize in assisting our clients to get the most from their settlements when they suffer any structural damage. Call or visit us today to find out how we can help you!