How to Handle Mold Damage Insurance Claims
Mold can cause serious illness and property damage. Insurance claims agents, appraisers, and industry advisors have needed to deal with mold issues for as long as insurance companies have been around. Residential and commercial buildings have become more susceptible to mold infestation in any moist breeding ground. Mold exposure can destroy building products, surfaces, furniture, and belongings and have mild to severe consequences for people’s health. Here are some tips to consider when it comes to mold damage.
REPORT SUSPECTIVE DAMAGE IMMEDIATELY.
Immediately call your insurance agent to report any suspicious damage. In the event of a catastrophic flood or pipe failure, having a renovation kit within the first 48 hours to begin drying the property to prevent or contain mold growth can be critical. Be firm but always polite. Make detailed notes on each conversation, including the name, company, telephone number, address, and title of each insurance expert, agent, advisor, and contractor with whom you do business. Confirm all agreements in writing. Insist on deadlines and deadlines being met. Notes and letters. Request and save business cards for everyone involved in your claim.
REVIEW YOUR POLICIES CAREFULLY.
If you don’t have a full copy of your policy, you can get one from your insurance agent. Take a look at the “Explanations” page, which tells you about what your insurance covers, the insurance limits for each insurance claim, and the validity dates of the insurance claims. Read the policy’s fine print to see what is insured, what is excluded, and what you need to do to prove your claim. Review any addendum that has been added to the policy form to see if they change, remove, or add to your insurance policy.
NEVER SIGN AN EXCEPTION, WAIVER, COMPENSATION, OR “LIABILITY AGREEMENT” WITHOUT PROPER LEGAL ADVICE
You should never have to sign an indemnity to resolve an uncontested claim. If your insurer, appraiser, advisor, or contractor asks you to sign a release, waiver, indemnity, or indemnity agreement, ask them to explain the reason in writing. These types of compromises can force you to pay thousands of dollars for problems that crop up over time that you never expected. Ask a public adjuster about your rights before signing a contract.
GET A SECOND OPINION
Look out for any “low” estimates from insurance-friendly contractors. Get a second, and even third, written estimate for the repair and replacement of damaged property from reputable, independent professionals whom you would hire to do the actual work. You have the right to have your damaged property replaced with “of the same type and quality”. Insist on it. If you are unable to match undamaged tiles, wallpaper, carpets, or any other undamaged portion of the property, you have the right to have the entire “line of sight” replaced accordingly.
INVESTIGATE YOUR INSURANCE COMPANY’S “APPROVED” CONTRACTOR, LICENSE, AND REFERENCES BEFORE YOU AGREE TO HIRE.
You do not need to use consultants or contractors recommended or “approved” by your insurer to perform repairs. “Approved” contractors are typically contractors who have agreed to deduct their work and expenses and who follow the policy of the insurer in exchange for a volume of business from the insurance company. If your insurer promises to “guarantee” the work of the approved contractor, the “guarantee” is generally limited to replacing defective materials or correcting any defects in workmanship. Your insurer does not insure against the delay, negligence, or liability of a contractor. Therefore, do not use the “approved” contractor unless it is a contractor whom, after a thorough review, you would independently hire to carry out the work.
CONCLUSION
If you or someone you know has found mold in your house and you’re not sure what to do, contact Crestview Public Adjusters today for a free consultation to learn more about what your insurance company can and can’t help you with. As a top-rate public adjuster in New York and New Jersey, Crestview has helped 10s of clients retrieve millions of dollars for their damages.
