Mold Remediation: Are You Covered?

9/21/2021 (Permalink)

Mold remediation in Vickery Meadows, TX.

Mold spores are everywhere, and under normal circumstances, they don't pose much of a threat to your building. If, however, spores find just the right combination of heat, oxygen, food and moisture, patches of mold may start to form in as little as 24 hours. Does your commercial insurance cover the damage?

Limitations and Exceptions

The insurance policy on your property in Vickery Meadows, TX, probably covers mold damage in most cases. Even if the policy has a fungus exclusion, there are typically exceptions to the exclusion that include specified causes of loss:

• Vandalism
• Windstorm
• Hailstorm
• Smoke
• Fire
• Lightning

It is unlikely that mold growth will result from any of these issues, but they are not the only circumstances that may be covered under your policy. Your commercial insurance may include Limited Fungus Coverage. This clause basically serves as mold insurance and covers testing, damage, cleanup and restoration. Your insurance carrier may cover up to $15,000 in mold damage under such a policy.

Responsibility and Timeliness

It's important to remember that fungus coverage may not apply if the mold growth is the result of your neglect. As soon as you detect a leak or excess moisture problem in your building, you have the responsibility to take care of it efficiently. Water damage specialists should be called in a timely manner. If the leak is extensive, they may not be able to fix it before mold sets in, but your quick action can lower your risk and minimize the damage, which increases the likelihood that your insurance company will be receptive to covering the cost.

Most commercial insurance packages include some kind of mold coverage. Your insurance agent can explain exactly how your policies protect you. As long as you can prove you did everything you could to avoid the mold problem, insurance will probably pay for the majority of the cleanup process.