In Florida, many homeowner insurance policies are written to include mold damage claims. However, the wording of the individual policies and coverage limits can create headaches and hassles for homeowners when they must file a claim.
Some policies are written for the least amount of coverage and may only pay $1,000 or less for damages. Other policies have caps that could be as much as $10,000 or more. It is important to keep in mind—while these amounts might not seem that much—when a claim is paid, it has to be broken down between your normal coverage and the mold coverage.
To illustrate, let’s say you discovered mold in your attic after a major storm and find out there is a roof leak. You file a claim with your insurance company. Initially, they send out their own adjuster to see the damages, yet they do not offer anything for the mold damages.
This is not acceptable when you have mold protection as part of your policy. Rather, the claim has to be handled correctly. You should receive reimbursement to fix and repair your roof along with any water damage caused by the storm.
In addition, these amounts are kept separate from the mold damage amounts. Next, the mold damage should be calculated based on the costs to clean it up. The repair work should be covered under your normal coverage, not the mold coverage.
For instance, it costs $2 a square foot to remove and install new insulation. It costs $2.50 a square foot to remove and install new insulation that has mold in it—then the $0.50 a square foot is all that should be claimed under your mold coverage. The other $2 a square foot would be claimed under your regular policy coverage.
As you can see, trying to figure out how much should be claimed under different areas of your policy can be rather confusing. Unfortunately, insurance companies and their teams of claims lawyers realize it and use this to their advantages.
If you file a claim for toxic mold damages, and your insurance company denies the claim or is giving you the runaround, you have another option you can pursue: You can contact a toxic mold attorney for assistance at our law firm.
Getting assistance with your claim from an experienced lawyer ensures you will be offered the best settlement on your claim. Many people are surprised to learn they are entitled to a larger reimbursement than what their insurance company is offering.
Additionally, if you have received a payout offer from your insurance company, do not sign any forms or cash that check until you get a second opinion. You could be throwing thousands of dollars away that you were not paid by your insurance company for your mold damages.
For assistance in filing a toxic mold claim, having a payout offer reviewed, or any other insurance claims issues, please feel free to contact Silver, Bass & Brams at 1-888-897-1786 to schedule a free consultation appointment today!