Toxic mold has become the cause of nightmares for homeowners. Not only is discovering black mold in basement an indication of health risks in your home, but also property damage.
The woes of the homeowner with black mold in basement doesn’t end there. You also have to deal with the costs of mold removal. If the infestation is deep and far reaching, you may have to spend several thousands of dollars to have it removed.
Home insurance and mold
One of the first things that homeowners ask when faced with black mold in basement is whether their home insurance policy will cover the removal of the mold. It is true that mold can not only damage the value of your property, but also the physical property itself. Unfortunately, not all home insurance policies cover mold remediation. In many cases, insurance policy providers will consider the factors that contributed to the growth of the mold to determine whether they will cover the cost of mold eradication or not. In many cases, mold infestations result from water damage. Unfortunately, home owner policies don’t cover all types of water damage.
Water damage that is caused by maintenance problems is typically not covered by standard homeowners’ insurance policies. This includes ongoing water leakage, problems caused by your landscaping, as well as ongoing problems with humidity. Almost all standard policies exclude flood damage.
However, your homeowners’ policy may cover accidental or sudden water damage such as the bursting of your pipes.
However, you need to be cautious. Many insurance providers are getting tired of claims for mold damage. It is therefore important to read your insurance policy every year as many providers are trimming their cover for mold. Find out whether there is a cap on the amount of coverage the insurance provides for mold testing and cleanup.
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The best protection
The best way you can protect your household from mold is by preventing infestations in the first place. Be extra vigilant to ensure that you don’t give mold a foothold in your home by:
- Investing in waterproofing for your basement or crawlspace
- Using dehumidifiers in damp spaces
- Ventilating your home and especially your bathroom and kitchen
- Fixing leaking plumbing as soon as you notice a leak
- Having your home inspected for mold as soon as you notice signs of mold infestations, such as a musty smell. Catching an infestation early can bring down the costs of remediation significantly.