Black MoldIn 2001, black mold cases cost insurance companies over 1.2 billion dollars. This figure includes the following costs:
Since 2001, the number of black mold cases has steadily risen. Every year there are billions of dollars in lawsuits. Looking For More Information? Search our site . . . Search the web As a result, insurance companies have stopped carrying mold coverage. Landlords, builders and property owners are on their own. Unfortunately, many landlords do not fully understand their insurance coverage. Mold liability suits are on the rise, and you don't want to be the next victim! You should pay special attention if you live in the states of Florida, Texas, California and the southwestern states. These locations are prone to mold problems as well as mold lawsuits. So, What Can You Do? Getting Coverage Because of these numerous mold verdicts, many insurance policies include a "mold exclusion" in their insurance policies. Look at your policy to see if it contains a "mold exclusion." If it doesn't, hang on to that policy. What can you do if your policy has a "mold exclusion?" Learn something new. Browse through all of my FREE ARTICLES Usually, you can get mold coverage as a stand-alone policy, or as an add-on to your existing policy. But watch out! Mold coverage carries high premiums. There are a few circumstances when you really should spend the money to buy mold coverage. If you live in a humid are such as the Pacific Northwest, it may be a good investment to get the extra coverage. Furthermore, if your property is old, you might want to be covered. Older buildings were built before there were strict guidelines for builders to deal with toxic mold removal. You may be able to reduce the cost of coverage by developing an Operation & Maintenance Plan for dealing with mold. Your O&M Plan generally includes
Fighting Mold The best thing you can do to keep mold out of your buildings is to deal with it immediately. If your property has a history of mold, inspect it regularly. Talk with your tenants and employees. Make sure they know how to check for mold. Ask them to notify you immediately when they find it. Revise your lease to include a section on mold. Take a look at all of my FREE RENTAL FORMS Some landlords make their tenants fully responsible for mold cleanup, unless it's a structural problem. At the very least, put a clause in the lease stating that it's the tenants' responsibility to notify the landlord of any mold problems. From a legal standpoint, this shifts the burden for a negligence cause of action. You may also consider having a professional mold inspection. This can be an expensive procedure, but your lawyer will tell you that it could be a life saver in defending you in a lawsuit. Special thanks to Rich Fuller for submission of this article to Law-For-Landlords.com. Learn more about removing mold from attic at Toxic Black Mold Help.org. You'll also find other information such as mold exposure treatment. ToxicBlackMoldHelp.org is a comprehensive resource to help individuals to test and inspect, identify health symptoms and removal of toxic black mold. Thanks for visiting my website. Steve
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