The Interesting World of Mold and Insurance

9/2/2020 (Permalink)

Mold damage in Pinewood, PA

It's rare that you get to combine two of your favorite topics in one discussion, but here is your opportunity: mold and insurance. Well, maybe not. Nonetheless, as a business owner or property owner it's important that you have an understanding of mold insurance claims. The truth is that insurance companies have not made it easy for a company to submit a successful mold claim. The best course of action is to set aside a couple of hours to speak with your insurance agent about the proper strategy for your situation. This should be done at least once a year to keep you abreast of changes in your business world and the insurance industry.

The Insurance World

When it comes to mold insurance claims, most commercial policies have a thing called a fungus exclusion. The basics of this exclusion limits coverage in the following situations:

• Damage caused by mold and mildew
  
• Damage caused by dry or wet rot
  
• Damage caused by bacteria
  
  

The basic purpose of this exclusion is to exempt an insurance company from paying out damages and repairs for mold infestations. It is also designed to lessen an insurance company's exposure to expensive liability claims. This change came a number of years ago after a number of highly-publicized settlements for damages associated with mold claims. Even so, under certain specific conditions, the damages from mold and the expenses for repair will be covered.

The Mold World
The good news is that mold itself is not nearly as complicated as mold insurance claims. Plus, the world of mold is much more interesting to most people. If you do find yourself a victim of a mold infestation in Pinewood, PA, the solution is relatively straightforward: call in a professional mold mitigation company. The company will send in an accomplished group of technicians that will take care of any moisture problems, kill and remove the mold and repair any damages to your building. A successful mold remediation makes sure the mold will not grow back in a matter of weeks or months.