Renter’s Insurance and Mold Damage: 3 Facts

5/29/2019 (Permalink)

Mold damage due to a leak in an Oklahoma City home

Learning the Facts of How Mold Can Affect Your Rental Space

Having rental insurance in Oklahoma City, OK, can protect your belongings against sudden damage or theft. However, there are some circumstances that may leave you without the coverage you need to recover, such as problems resulting from mold growth. Learning the facts about how fungi might affect your rented space and whether you are safeguarded against the damage it does can be important for protecting your finances and for your peace of mind while renting a property.

1. Most Internal Mold Causes Are Covered

One of the most important factors when it comes to what type of mold damage renter’s insurance covers is what caused the issue. For example, a flood caused by a burst kitchen pipe or a malfunctioning HVAC unit that in turn causes mold will likely be covered by your rental insurance. It is important to know, however, that protection against natural or sewer floods may require you to buy an additional policy to be covered completely.

2. Negligent Acts May Void Coverage

If it is found that you caused mold problems in your apartment or rented home, any coverage you might have been entitled to could be voided. This may include fridge mold, the improper cleanup of small floods that damage your belongings and poor housekeeping habits. Learning a few common causes of mold and how to prevent it can protect you from losing coverage.

3. Landlord Liability Can Be Limited

If a landlord fails to maintain your building and a leak or a flood damages your belongings, you might want to review your lease before you seek compensation, as many property owners have you sign away liability when you rent from them. Your landlord might have a mold removal and restoration service come in to resolve the issue, but depending on your lease, you might have to pay for damaged items out of pocket.

Buying rental insurance for any property you lease in Oklahoma City, OK, can protect you from a variety of different problems, including mold growth. Learning the facts about coverage may help you feel prepared in the face of flooding, fires and other events that cause fungi to grow.