What is the Insurance Industrys Response?
The costs associated with remedying toxic mold exposure can be great. Costs range from testing, temporary living expenses, and remediation to total replacement, relocation, medical expenses and emotional anguish. The insurance industry is taking the issue of toxic mold claims very seriously. Nationwide, the industry is seeking to exclude or cap damages due to toxic mold infestation. Most homeowners’ policies now contain exclusions for losses caused by mold. However, depending upon the particular circumstances, there may be insurance coverage for losses associated with mold. Commercial policies involve similar coverage issues. You may need to discuss your particular circumstances with a qualified attorney to determine whether coverage exists.
