Mold and Insurance Claims: What You Need to Know

11/8/2023 (Permalink)

When it comes to mold and insurance claims, navigating the fine print of your policy can be as tricky as identifying mold itself.

Mold issues can be a concern for homeowners and property managers in Portland, ME. When dealing with mold, understanding how insurance comes into play is crucial. In this blog, we'll provide valuable insights into mold and insurance claims, helping you navigate this potentially complex process with confidence.

Understanding Mold Coverage in Insurance Policies

When it comes to mold and insurance claims, navigating the fine print of your policy can be as tricky as identifying mold itself. Understanding what your insurance policy covers and doesn't cover is essential for making informed decisions. From standard homeowners' insurance to specialized endorsements, we'll explore the ins and outs of mold coverage to help you make well-informed choices in protecting your property.

Standard Homeowners Insurance 

Most standard homeowners' insurance policies typically do not cover mold damage. They often view mold as a result of long-term maintenance issues or neglect, making it an excluded peril. However, exceptions may exist if the mold resulted from a covered peril like a burst pipe.

Mold Endorsement or Rider

Some insurance providers offer mold endorsements or riders that you can add to your policy for additional coverage. These endorsements usually have specific limits and may only cover particular types of mold-related damage. It's crucial to review the terms carefully.

Flood Insurance 

Mold resulting from flooding is typically not covered by standard homeowners' insurance policies. For protection against mold damage caused by floods, you would need a separate flood insurance policy through the National Flood Insurance Program (NFIP).

Water Damage Coverage 

Mold often follows water damage. If your policy covers water damage resulting from issues like burst pipes or roof leaks, it may indirectly cover mold remediation resulting from those water-related issues.

Steps to Take When Filing a Mold Insurance Claim

1. Assess the Damage: Before filing a claim, thoroughly assess the mold damage in your Portland, ME property. Document the extent of the mold growth, take photos, and gather evidence to support your claim.
2. Review Your Policy: Carefully review your insurance policy, including any endorsements or riders related to mold coverage. Understanding what your policy covers is crucial when filing a claim.
3. Contact Your Insurance Provider: Notify your insurance provider as soon as you discover the mold issue. They will guide you through the claims process, provide the necessary forms, and assign an adjuster to your case.
4. Mitigate Further Damage: Take steps to mitigate further mold growth and damage. This may include hiring professionals for mold remediation to prevent the problem from worsening.
5. Keep Detailed Records: Throughout the claims process, maintain detailed records of all communication with your insurance company, receipts for expenses related to mold remediation, and any other relevant documentation.
6. Follow the Claims Process: Work closely with your insurance adjuster to ensure your claim is processed smoothly. Provide all requested information promptly to expedite the process.

Navigating mold insurance claims can be intricate, but with the right information and proactive steps, you can effectively protect your Portland, ME property. Remember to understand your policy, document damage, and follow the claims process diligently. If you need professional mold remediation services to address the issue, SERVPRO® of Portland is here to help. Our experts are trained to handle mold-related problems efficiently and effectively, ensuring a safe and mold-free environment in your home.