Mold claims can be very tricky. First, in most insurance policies they are capped at $10,000 for the entire claim. Many people also find that they do not have mold coverage at all because they want to save a little bit of money on their insurance rate. Make sure that you have the coverage in your policy before you call your insurance company. Also make sure it was not excluded from your new yearly policy by checking the exclusions section.
Finding mold, mold spores and fungi requires an expert and is often not visible to the naked eye. Mold can grow within 24 hours from exposure to moisture. Locating this damage is of vital importance as prolonged exposure to molds can cause nasal stuffiness, throat irritation, coughing or wheezing, eye irritation, or, in some cases, skin irritation. People with mold allergies may have more severe reactions. Immune-compromised people and people with chronic lung illnesses, such as obstructive lung disease, may get serious infections in their lungs when they are exposed to mold. These people should stay away from areas that are likely to have mold, such as compost piles, cut grass, and wooded areas. The Institute of Medicine found sufficient evidence to link exposure to damp indoor environments in general to upper respiratory tract symptoms, cough, and wheeze in otherwise healthy people and with asthma symptoms in people with asthma. The IOM also found limited or suggestive evidence linking exposure to damp indoor environments in general to shortness of breath, to respiratory illness in otherwise healthy children and to potential development of asthma in susceptible individuals. Based on this information you would think that people would opt for higher mold coverage to protect themselves, which can be an option as well. Sadly, we find the opposite to be true and see many policies without any coverage.
Positioning these claims correctly based on the cause is extremely important to the outcome. Again, we have experienced several clients limit themselves by calling their insurance companies and making a mold claim. We know the legalese in your policy inside and out and know firsthand how to maximize the claim, according to your individual policy, for your benefit. If you have a serious mold problem, $10,000 will not be enough money to remediate your home properly. Please allow an expert to help you navigate through this process as it is quite overwhelming. Always contact us first and ask questions, there is no cost for information and no upfront fees for our service.
*Some of this information was taken directly from the center for disease control website for your convenience.