Does renters insurance cover mold damage?

Facebook
Twitter

Ceiling corner with mold and peeling paint from water damage.

Summary List PlacementTable of Contents: Masthead Sticky

Renters insurance protects your personal belongings from damage and theft. 

There are limitations to renters insurance coverage, and it all depends on whether damage was caused by a covered event, known as an “insurance peril.” An insurance peril refers to a specific event that determines whether or not you’ll be covered against damage. Common insurance perils include fire, storm, and theft.

Does renters insurance cover mold damage?

Renters insurance covers water damage as a result of a named peril (or covered event). Yael Wissner-Levy, vice president of communications at Lemonade Insurance, said that as a renter, you are protected from anything that suddenly causes water damage without any prior known issues, like the accidental overflow of water or steam from plumbing, heating, AC, or sprinkler systems.

As for mold, if it’s a result of water damage from a covered peril — such as a burst pipe, wind, or hail storm — it may be covered under renters insurance. Mold needs time to grow, along with warm weather, which is why you normally see mold after a hurricane.

If mold is not related to a peril, then most renters insurance companies will deny coverage for mold damage. If mold is a result of your own negligence, it will not be covered.

Renters insurance typically covers these events (perils):

See also  LendingClub Bank review: Checking account with 1% cash back on unlimited purchases

Fire or lightningWindstorm or hailExplosionRiotsAircraftVehiclesSmokeVandalismTheftFalling objectsWeight of ice, snow, or sleetAccidental discharge or overflow of water or steamSudden and accidental tearing, cracking, burning, or bulgingFreezingSudden and accidental damage due to short circuitingVolcanic eruption

See also  Blue Cash Preferred versus Blue Cash Everyday: Which Amex cash-back credit card is best for you?

Source: Data from The Zebra and Lemonade

/* Business Insider / Home Insurance Content */
var MediaAlphaExchange = {
“”data””: {
“”zip””: “”auto””
},
“”placement_id””: “”AI2s2FqMg-pNePgB_0uS-Ny3GAeFCQ””,
“”sub_1″”: “”us/posts/61114b7be278c65e8750f77f””,
“”type””: “”ad_unit””,
“”version””: 17,
“”ua_class””: “”auto””,>

Mold damage from flood and sewer lines requires separate coverage

Flood damage is not covered under renters insurance and requires separate flood insurance. Mold from backup or sewer lines isn’t covered, but you may be able to get coverage as an add-on rider. 

If your home gets mold as a result of a flood or sewer damage, you may not be covered unless you have a separate flood insurance policy.

How to file an insurance claim for mold due to water damage

Follow these steps for filing a claim with your renters insurance company:

Contact insurance carrier. Contact your landlord. The landlord is responsible for damage to the building and structure.Take pictures or video of the damage and where it is located.Related Content Module: More on Homeowners Insurance

Join the conversation about this story »

brainpill 5 1 26

By: Ronda Lee
Title: Does renters insurance cover mold damage?
Sourced From: www.businessinsider.com/personal-finance/does-renters-insurance-cover-mold-damage
Published Date: Mon, 09 Aug 2021 13:36:53 -0400

Did you miss our previous article…
https://eyeballsonline.com/lili-review-checking-and-savings-with-tax-tools-for-freelancers/

Meal Prep These Healthy Recipes for Weight Loss In No Time | 1200-Calorie Meal Plan | Prep School

https://www.youtube.com/watch?v=OOwyT9zxTDI Gluten-Free Dessert RecipesOne of the biggest challenges...

These Easy Recipes for Weight Loss Are Packed With Protein and Fiber | Prep School | EatingWell

https://www.youtube.com/watch?v=jypFYJldXkQ A Simple Recipe for a Tasty Dessert...

9 Senior Centered Side Hustles to Round Out Your Retirement

https://www.youtube.com/watch?v=7ezac8yvYtA Healthy and Light Alternative Recipes for the...
reclama5