How Does the Presence of Mold Affect Home Insurance Rates?

Home insurance companies and mold do not get along well. Over the last few years, home insurance companies have begun to understand the long reaching affects that mold has in the home, and the presence of mold can affect a home insurance policy greatly. There are geographical locations that home insurance and mold are simply bound to go hand in hand and there isn't much you can do other than clean up the mold as often as humanly possible. Areas such as Washington state, Oregon, and most of the Southeastern states are prone to high levels of mold. Environmental factors are taken into account and many home insurance companies suspect that people living in high mold environments are going to have mold and they charge accordingly. However, there are plenty of home insurance companies that do not deal with mold at all. It is vital to carefully check with your insurance carrier to determine whether or not your home insurance and mold are going to cause a conflict of any type.

Mold poses a serious health threat, one that many of us overlook time and time again simply because we were never adequately educated about the potential mold carries in our homes. Unfortunately, the health hazards posed by mold can fall under your home insurance claims should you have a relative, friend, visitor, or even a repair person fall ill due to the mold in your home. With a growing number of cases of serious and potentially fatal allergies to mold in the United States, home insurance and mold are now meeting on a new common ground.

Mold also has the potential to cause property damage. Many home insurance companies treat mold as the owners' responsibility, careful maintenance can prevent mold from becoming a serious health threat or a threat to the home. Mold that is caused by a condition that results directly from home damage, such as water damage and the residual effects of that water damage may be covered by those home insurance companies that don't cover mold issues. Again, if you have a significant mold problem, live in a high mold area, or have a home condition that is likely to cause a lot of mold, then it is imperative that you determine how your insurance company deals with the issue of mold.

Home insurance and mold will most likely become a rotating issue for some insurance carriers. In fact, it is recommended that you check with your insurance company annually as policies regarding mold are likely to change one way or the other over a period of time. By maintaining your home to the best of your ability and reducing the likelihood of mold, the chances of having to deal with a health condition or home damage as a result can be significantly reduced.