Your homeowners’ insurance policy may cover some types of mold damage and not others. When it comes to insurance, whether or not you are covered often depends on why your property was damaged, not how it was damaged.
If your mold was caused by a maintenance problem…
Your insurance policy doesn’t likely cover eliminating your mold. You have a responsibility to maintain your home, fix leaks, and make regular repairs.
If your mold was caused by flood damage…
Your insurance policy won’t likely pay for you to fix your mold damage. Many basic homeowners’ policies do not cover flood damage, so any damage related to floodwaters would also not be covered.
If you have a separate flood insurance policy…
If your mold damage was caused by floodwaters, you may have a valid insurance claim. Read your flood insurance policy carefully to find out more.
If your mold damage was caused by issues with your home construction…
The damage may not be covered by your insurance policy, but you may be able to get your construction company or contractor to make repairs.
Remember, the single best way to determine whether your mold damage is covered by your insurance policy or your builder warranty is to read your contracts carefully. It is also important to regularly look for signs of mold in your home. If you find mold, understanding the source of the mold is vital to stomping out the problem and understanding who should pay for repairs.
Want to read more? Read about what to do if you find mold in your new construction home.