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Does Renters Insurance Cover Mold?

Renter’s insurance coverage can be beneficial for both those renting as well as their landlords. This type of coverage is usually very affordable and will cover almost anything. It may even cover damage due to mold unless it has been specifically excluded from the policy. 

Normal Coverage

A standard renters policy will cover several things. These things may include damage due to fire, flood, or even malicious human activity. An all-risk policy will cover everything, while a standard policy may cover most, but not all, causes of damage. Certain types of water damage are typically covered. Mold, however, is usually not covered and may require extra coverage, known as an endorsement, to be covered. An endorsement may provide coverage, although the coverage is typically limited to a specific dollar amount such as $5,000. 

Water Damage and Mold

Policies can get tricky when it comes to their wording, and it is imperative to have a thorough understanding of your policy to know what is and is not covered. A renters policy may, for example, cover water damage due to a leaky roof. It may not cover any damage due to mold that was a product of the leaking roof. 

Because mold is not typically a covered peril, most policies may cover it if it’s not specifically excluded. For any questions or concerns regarding your policy and its coverage, it is always best to speak with your insurance professional to obtain clarity. 

Mold You Cannot Fix May be Covered

A renters policy may cover mold issues that the policy owner is unable to address. These can include mold within the walls, ceilings or floors that cannot be seen or accessed by the policyholder. Even mold that is a result of water discharge, which would normally be excluded, may be covered if it is hidden from view. If the mold that is contained within the building structure causes damage to your property, you may need to file a claim with the landlord’s insurance company and receive payment through them. 

Getting an Endorsement

If mold is excluded under your renter’s policy, obtaining a mold endorsement may be simple. An endorsement provides coverage in an area where the policy does not normally offer coverage. Although obtaining an endorsement may be easy, they often have limited liability amounts with an average limit of $5,000. 

Wrapping Up

 Insurance can be a tricky and confusing business. The key is to know what you need coverage for and to make sure that your insurer provides it. Make sure to speak in detail with your insurance professional to get clarity on issues that may not be clear. Doing so could save you thousands of dollars in the future.

Updated on March 31, 2020

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