Mold Insurance: What Is Covered
As a business owner in Memphis, TN, your insurance policies are important to maintaining your company and securing your future. Insurance coverage is there to protect against damages from several kinds of events. Floods, hurricanes and other natural disasters can lead to a widespread mold problem throughout your building. So, how do you know if you’re covered? How do you know what’s covered? Here are a few things that are generally covered under an insurance policy.
Direct Loss and Damage Costs
In some cases when it comes to fungus growth, the insurance claim depends heavily on how the mold grew. If the mold was due to a flood, you may need accompanying flood insurance to receive coverage. If you do have mold coverage, however, then you may find that your property is protected from direct losses or damage costs. This means that if the mold damages or ruins any of your business’s belongings, the cost will be covered.
After a widespread mold problem, you are bound to have damages to the building. This is where you need a professional remediation service. With mold insurance, you should be covered for the repairs that need to be done. It’s also good to keep in mind that while most molds and funguses may be included in a policy, there are exemptions, especially with fungus growth.
If you had a flood or other natural disaster that may cause you to worry about the presence of mold, then you should have your property professionally tested. The good news is that some coverage will take care of you when it comes to testing for fungus growth in your business.
Insurance is one of the single most important protections that a business can have. Given how mold is a common problem, it’s important to make sure that you are covered in case of damages.
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