What To Know About Mold Damage and Your Insurance

1/22/2019 (Permalink)

Call your agent to find out if you are covered

Mold Damage And Your Insurance

If you’ve discovered mold damage in your rented Brooklyn, NY, home, you may be wondering if your rental insurance policy will cover the damage and remediation. The answer to this depends both on your policy and the damage type.

1. How Insurance for Renters Works

Renters insurance policies typically cover the personal property of the renter, while the landlord’s insurance covers the structure. Most policies include coverage for damages caused by an emergency situation, such as fire or flood, and any damage resulting from those situations. They may also cover damages caused by accident or nature up to the point when the resident has had reasonable time to discover and fix the problem. Most insurance policies will not cover damages resulting from neglect.

2. What Mold Damages May Be Covered

Your rental insurance may have provisions for mold removal and remediation if the mold growth is caused by an emergency, such as water from a fire hose, nature, or an accidental pipe break, among similar situations. In many cases, they may also cover the costs for hiring a mold remediation professional.

3. What Renters Are Responsible For

In most cases, renters are responsible for reporting any mold removal needs as soon as they realize there’s a problem. Mold damage to a renter's personal property also falls to them, while damage to the actual property may be covered by the landlord’s policy. In many cases, renters insurance may require the renter to do everything they reasonably can in order to report and remedy the mold problem. The renter is also responsible for having insurance and knowing what the policy contains.

In most cases, a rental insurance policy will cover damage up to the point where the renter could have prevented it from getting any worse. This means that as soon as damage is found, appropriate steps should be taken to stop the infestation and prevent further spread. In some cases, your policy may even cover the cost of professional cleaning.