Homeowners Insurance: A Few Things You Should Consider

13 Jun Homeowners Insurance: A Few Things You Should Consider

Homeowners insurance is an important component of the home buying process. What is covered? Are their items not included that you need? Are there items included that you do not need?

One common item that comes up time and time again is mold coverage. Although on most occasions mold is completely harmless, there are certain situations in which it can cause a homeowner’s insurance claim to be denied.

There are several things that determine if mold damage is covered by homeowner’s insurance. Most often the decision is made based on where the moisture that caused the mold came from initially.

Most policies exclude damage caused by fungi and bacteria, but typically cover damage caused by “emergency situations”, such as a pipe bursting. Other situations that also cause claims to be rejected are negligence to the home, including ongoing water leaks and exposure to humidity.

The most definitive way to avoid a denied claim is to keep mold to a minimum, as preventing mold is critical when it comes to protecting your home’s value. Here are a few ways in which you can work to protect your home:

• Use household cleaners that have mold killing properties
• If you have carpet in the bathroom or kitchen, ensure that it is never wet for long periods of time
• If you have a pool and carpeting indoors, ensure people are not tracking water throughout the house on a continuous basis
• Clean outdoor gutters to ensure that they aren’t overflowing
• Use dehumidifiers and air conditioners to lower humidity indoors

These are just a few tips that can assist in protecting your home. In addition, your real estate agent will also be an immense asset in helping you though this process as well.