Why should owners of old homes be more concerned about mold and mold removal?
Home buyers should keep in mind that they are likely to be faced with higher insurance rates when purchasing older homes, especially if they are located in humid climates. It should come as no surprise that older properties are more susceptible to water infiltration, mold, foundation cracks and so on; they have endured many harsh winters and many rainy springs. Every passing year, more moisture seeps into the home’s structure, causing wood and cement to slowly wear away.
What happens if you experience a mold problem in your home? Is it covered by your insurance company?
It depends! Here are a few things you should consider:
- Take the time to review your insurance policy to determine your coverage and entitlements when it comes to mold remediation.
- Most policies cover the cost of mold removal when growth results from accidental damage like a pipe bursting. Check your policy to make sure.
- Your claim may be rejected if your mold problem is brought on by neglected home maintenance, including a leaky roof or constant exposure to humidity. Is your home at risk due to these factors?
Thanks to innovative construction materials available today, newer homes are being built with mold-resistant wood, drywall and paints. Nonetheless, property owners should regularly inspect their building for moisture and dampness. Put in place necessary preventive measures and repairs, if required, to minimize mold growth and protect the value of their home.