How Landlords Can Protect Against Mold Damage Lawsuits

5/10/2020 (Permalink)

If mold appears, contact a local mold mitigation franchise in Big Rock, IL

If you rent property to residential tenants, such as for apartment buildings, or for commercial properties, it is important to know a little about mold insurance claims. In either situation, you have a responsibility to maintain your property to certain standards. These standards can vary a bit between different locations. If you fail to achieve this standard, your company can be sued by the people or the business that is renting your property. In the case of mold, in the most general terms, you should make sure the conditions for mold growth are not present in your building. If mold does appear, it is important to contact a local mold mitigation franchise in Big Rock, IL.

Mold Insurance Claims

The best source of information regarding a mold claim is your insurance agent. While most commercial insurance policies have exclusions regarding mold coverage, it is possible to purchase additional coverage, sometimes called environmental liability insurance, for protection against third-party claims. In general, you may be subject to a lawsuit if the following conditions are present:

• Mold is growing in the rented property
  
• Mold has resulted in damaged to belongings
  
• Mold has caused a business disruption
  
• Mold growth is the result of a failure on your part
  
  

If the presence of mold has arisen from a failure on the part of the renter, the lawsuit is less likely to be successful. Residential landlords are more likely to see a mold claim against them than are commercial landlords.

Mold Remediation
A fast response to a mold problem is an effective way to avoid mold insurance claims against you. This will clear away the mold colonies before they have time to cause adverse health effects or do damage to belongings. Professional mold removal treats the cause of the mold growth, usually dampness or high humidity, and gets rid of the mold problem.