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Fire & Water - Cleanup & Restoration

Uncovering the Truth: Does Your Commercial Insurance Policy Cover Mold Damage?

6/8/2023 (Permalink)

business insurance Protect your business with business insurance to ensure your covered.

Mold damage is the result of mold infestation. Mold spores are microscopic, but Mold can spread quickly.  When you see or smell mold, it's important to take action before the problem gets worse. If you have a commercial insurance policy that covers mold damage and your property has been affected by it, then you may be able to get reimbursed for any repairs or replacements that were necessary after the incident occurred.

What Does Commercial Insurance Cover?

Commercial insurance policies come in a variety of types, but they all share the same basic coverage for mold damage. The following are some common commercial insurance policies:

  • Business owners policy (BOP)
  • Commercial property policy (CPP)
  • General liability insurance (GL)
  • Workers compensation insurance (WCI)

How Do I File a Claim for Mold Damage?

To file a claim for mold damage, you will need to document the damage and estimate the cost of repair. You can use this information to help you file your insurance claim.

Once your home has been cleaned up and repaired, be sure to take pictures of the area before repairs are made so that you have a record of what it looked like before any work was done. If there were any items damaged by water or mold (such as furniture), take photos of those items as well so that they can be replaced with new ones by your insurance company if necessary.

The next step is estimating how much money it will cost to repair all of these damages--and this might include more than just replacing damaged property with new items: if there were structural issues related directly with mold growth (such as cracking walls), then those costs may also need factored into determining how much money should be reimbursed by an insurer once they've reviewed all available documentation provided by homeowners who filed claims against them following such incidents occurring within their homes' walls.

How Can I Avoid Mold Damage?

When it comes to preventing mold damage, there are a few things you can do. First, maintain proper humidity levels in your building by using a dehumidifier or air conditioner if necessary. Second, regularly inspect for signs of mold and fix any water damage quickly. If you have an area in your building where moisture is an issue (such as near plumbing), consider installing a ventilation system that will help keep the air dryer and less hospitable to mold growth.

What Should I Do If I Have a Mold Problem?

If you think you have a mold problem, the first thing to do is hire a professional mold removal service. These companies have trained technicians who can identify and remove all traces of mold from your property. They'll also make sure that their work is done safely and according to industry standards.

Mold is a serious problem that can cause significant damage to your business. If you have any questions about mold insurance and how it works, contact SERVPRO® today!

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