Almost all homeowners in Pompano Beach eventually face some type of mold problem, which may be benign and easy to fix like mold growing in a shower stall or very serious if the mold is the result of serious water damage. Homeowners can face big problems if there is a persistent moisture problem that goes on for too long, which can cause widespread mold growth throughout the home. While this moisture may be the result of a leak or a flood, it can also be caused by high indoor humidity — a common problem in Florida.
Mold damage in Pompano Beach may or may not be covered by your homeowners insurance policy and it usually comes down to the source of the water. It’s important to review your policy and what it covers in terms of water damage because your policy may exclude or place limitations on mold, in which case you will be responsible for any mold remediation necessary.
Is Mold Covered?
Most homeowners insurance policies exclude any damage that results from bacteria, fungi, or mold. This doesn’t mean a claim for mold damage will be denied, however. If you have mold from an accidental, sudden peril that’s covered by your policy, such as a burst pipe, the cost of mold remediation will likely be covered. This is because the mold itself did not cause the claim but rather the burst pipe, which is covered. Your claim will probably be denied if your home has a mold problem due to neglected maintenance, repeated leaks, or long-term humidity problems that weren’t addressed.
Mold remediation can be very costly so it’s always a good idea to check your policy carefully and ask your agent if your policy is vague. While most insurers do not separate mold claims from water damage claims (as they’re usually related), 22% of homeowners insurance claims are caused by water damage and freezing, which includes mold damage and removal, according to the Insurance Information Institute.
The III found that the average claim for mold is between $15,000 and $30,000 — 5x the average claim for non-mold issues! A single inch of flood water can result in an average claim of $7,800. Your policy will likely have restrictions on the mold damage it does cover. In most cases, your policy will cover between $1,000 and $10,000 in mold removal and related repairs without covering and mold-related problems due to flood damage. You may want to purchase separate flood insurance to protect you. In Pompano Beach, flood insurance is usually required.
Additional Mold Coverage
Some insurance companies allow you to buy an additional mold rider, which is add-on protection for your homeowners insurance policy. A mold rider gives you additional coverage and it may be a good idea given the humid climate of Pompano Beach, which lends itself to mold growth. You may need to pay an annual premium of $1,000 to $2,000 a year for a mold rider. Older homes tend to cost more to insure, especially in humid climates like Florida.
Living in Pompano Beach means fighting a constant battle against mold. You can help protect your home and increase the chances that any claim you do need to make is approved by keeping mold at bay. Keep your indoor humidity level controlled by using a dehumidifier and air conditioner and make sure you regularly inspect your appliances for leaking hoses or fittings. If you do suffer water damage, take action right away by removing as much water as you can and contacting a company that specializes in mold damage and water damage restoration.