Mold buildups can be a huge problem for homeowners. In many cases simply uttering the word can evoke dread and fear other the health and financial implications that mold can have upon a household. Unfortunately, mold is a common occurrence for many Lake Tahoe residents and fending off an infestation can get exceptionally pricey, especially if the mold has caused structural damage to a property. Homeowners can typically expect to pay thousands of dollars for mold remediation, in some cases without any hope of recovering those expenses from their homeowner’s insurance policy. Whether or not a homeowner’s insurance policy will cover mold damage is largely dependent on the underlying cause of the mold.
Does your Lake Tahoe homeowner’s insurance policy include mold coverage?
The answer may not be as simple as it seems. Generally, most homeowner’s insurance policies will cover mold damage and for the cost of repairs so long as the mold is a direct result of a covered peril as outlined in your policy. For example, if a pipe burst on your property and the resulting water build up helped facilitate the growth of mold, then a homeowner may be able to file an insurance claim for financial compensation for the mold removal and any subsequent damages caused by both the burst pipe and the mold. Some policies include exclusions that are designed to limit the amount of coverage allotted for mold clean up and repair, or strictly specify which covered perils include mold protection. If mold build up is found to be the result of neglect, overdue maintenance, or a homeowner’s own mistake, your policy will likely not cover the damage or remediation expenses. Insurance claim compensation is often withheld for mold that is the result of leaky pipes, faucets, appliances, improper ventilation and other conditions which are deemed to be within the homeowner’s control.
In some cases it may be possible to purchase additional coverage, which would apply towards illness, injury, damages and clean up related to invasive mold buildups or other perils, so it is important to speak with a knowledgeable agent about your risks, your policy and your coverage options. At Cal-Nevada Insurance Agency we specialize in helping Lake Tahoe residents protect themselves, their loved ones and all their assets by providing quality risk management solutions and personal insurance products. We can help craft a Tahoe homeowner’s insurance policy designed especially to protect your needs now and in the years to come from all the risk exposures you may face. Give our Lake Tahoe homeowner’s insurance specialists a call today at (866) 670-5948 to learn more and get started.