3 Tips For Making a Mold Damage Claim

5/12/2020 (Permalink)

Mold growth on wall

3 Tips For Making a Mold Damage Claim

The average cost of mold damage remediation ranges from $15 to $30 per square foot. Fungus removal expenses for a commercial building can quickly add up, and some materials and contents may also need to be replaced. Commercial property policies often exclude mold damage that does not result from certain covered perils. Additional coverage in the form of an endorsement or thorough documentation of mitigation may be necessary to cover costs. These three tips can facilitate the process of making a mold claim.

1. Check Mold Coverage
General commercial insurance may have a limited amount of coverage for mold caused by covered perils. The standard Insurance Services Office commercial property policy caps this coverage at $15,000 for a single incident or policy year. A policyholder should review an insurance agreement, definitions, conditions, and endorsements to determine whether coverage is available. Confirm the terms of a policy before renewing and consider adding an endorsement for mold to cover more remediation costs.
2. Document Damage
A commercial property owner should put all communications with an insurance company in writing. Follow up a call to an agent with written communication. It is also important to take and date photos or videos that indicate the extent of damage or loss prior to fungus removal.
3. Provide Proof of Mitigation
The owner of a building should also maintain records demonstrating that any water damage has been mitigated in a timely manner and that industry-standard methods were used during restoration. An insurer may be more likely to cover mold cleanup costs if it is clear that negligence was not a factor.
Maintaining a sufficient level of insurance coverage is the responsibility of a commercial property owner in Portage Des Sioux, MO. Regularly check policy terms and fill in gaps in coverage with endorsements. If water damage occurs, gather proof of damage, mitigation, and restoration to support a fungus removal claim.