What You Should Know About Mold, Home Insurance, And Savings

Mold has become a common problem for home owners, and most of the time the usual home insurance policy will not cover these claims unless the mold is the result of a specific occurrence which is covered, such as a pipe busting or flooding when you have flood insurance as well. There are over one hundred thousand types of mold that can invade a home, and the health consequences will vary depending on the specific type of mold which is present. Some serious effects can include nerve damage and lung or other internal organ damage, and even mold which is not harmful can cause allergies, asthma, and bronchitis. Most home insurance providers do not cover mold removal, damage, or repairs because they consider the mold growth to be a maintenance issue, with the theory that if the home is properly maintained mold will usually not be able to flourish. Mold can cause serious structure damage over time, making it harder to get home insurance cheaply.

Dry rot is the result of mold which has gone unchecked. Signs of dry rot are enough of a reason to raise your home insurance premiums, because the insurance company understands how the process works, and dry rot makes your home substantially more likely to have damage to the structure which may result in a home insurance claim. When mold dies, it will eventually cause the wood it is in to shrink and dry out, causing the wood to break into chunks which can vary in shape and size. The wood will also crack and split. These gaps allow moisture to get into the wood, where it will collect on the portions where the wood is undamaged. If not treated and repaired, this turns into a vicious cycle, with good wood starting to dry rot. The longer the dry rot process goes on, the more damage there can be. Over an extended time this may cause the entire structure to be affected, resulting in huge repair and replacement bills.

Mold can be prevented with proper maintenance done regularly, and it is usually possible to get a rider added to your policy, for an additional amount, which will cover some mold damage. Even this coverage usually does not protect you from mold which is caused by leaks, condensation, humidity, or flooding unless the cause is specifically listed as covered. Maintaining your home can offer tremendous savings on your home insurance bills each year. Make sure that all pipes are tightly connected to ensure no leaks occur. It is important that proper ventilation takes place to avoid and eliminate any build up of humidity and condensation, which can provide an ideal breeding ground for mold. If there is a build up of condensation or humidity on concrete or stone basement walls, buy a special paint which eliminates this problem, and this paint is sold in most home repair stores. Make sure that you do not allow your washer to overflow, and ensure that any necessary water drainage is done effectively and efficiently. Preventing mold will keep your home insurance costs low, because with proper care your home should not develop mold, which means you do not need a mold add on to your home insurance policy. This can offer you significant savings each year on your home insurance costs.