Commercial Insurance: Is Mold Damage Covered?

7/29/2019 (Permalink)

Mold inside a wall

Three Things Commercial Insurance for Mold Covers

In Oakland, KY, there are a number of different events that may lead to the development of mold. If your commercial property undergoes any event that leads to mold, you may wonder what kind of insurance will cover your mold cleanup and fungus removal. If you have a mold problem in your building, you could be liable. When you run a business, it is your job to make sure that you have all of the proper insurance coverages. Here are three things commercial insurance for mold covers.

1. Costs of Replacement

When it comes to getting to the mold for fungus removal, sometimes mold remediation specialists will have to tear up structures to create access points. If your mold is inside the walls, for instance, you will have to break through drywall or other structures to get to the mold. When you do this, you have to replace your walls and other parts of the structure. Commercial insurance covers these costs.

2. Physical Losses and Damages

When you have limited fungus coverage, then you will have coverage for any physical loss or damage that you suffered because of the mold damage. If you have to replace any part of the building or replace any property, you can recoup the costs. In addition, these losses also cover the mold cleanup itself.

3. Testing Costs

After fungus removal, insurance will cover tests that ensure that the cleanup was successful. Say, for example, that you have the drywall or ceiling tiles replaced; you need to make sure that you got rid of every trace of mold. This will keep it from returning later.

Mold can be a problem in every building. If you need to invest in mold cleanup, it’s important to note that commercial insurance may be able to pay for it. With the right insurance policy, you can have coverage for mold remediation and hire a business to take care of your mold problem “Like it never  even happened.”