How much does mold and mildew damage cost to repair? I was recently reviewing my home insurance cost and noticed that a few things are not covered.

When I first moved in four years ago my cash flow was lower and I didn't expect to be here more than two years. Anyway, any thoughts on adding the coverage options below?

My house is four years old and worth ~$250k (relevant for mold damage calculations). I am leaning towards adding 100% and the other two coverages. This is through Amica, and dollar figures below are incremental to current policy cost ($946/year with 2% deductible). Thanks for any insight.

Can add coverage for seepage ($63/year)
- “Loss caused by constant or repeated seepage or leakage of water or steam.”

Can add coverage for fungus, mold, and mildew ($94.13-$117.00/year)
- “Loss caused by fungus, mold or mildew”
- Coverage by percent of dwelling value
-- 25%: $94.13/year
-- 50%: $105.15/year
-- 100%: $117.00/year

Can add coverage for foundation ($54/year)
- “Loss to floors, slabs, or foundations caused by seepage or leakage of water”
- Does not cover foundation damage from drought

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Posted by wickowick

Head of Island

Member since Dec 2006

46379 posts

Posted on 9/17/12 at 9:04 pm to Bayou Tiger

quote:
Can add coverage for seepage ($63/year)
- “Loss caused by constant or repeated seepage or leakage of water or steam.”

Add this, it is one of the largest denials for homeowners insurance. Something like a pipe leak behind a wall

quote:
Can add coverage for foundation ($54/year)
- “Loss to floors, slabs, or foundations caused by seepage or leakage of water”
- Does not cover foundation damage from drought

Sounds like it covers rot to framing. If the home is on a concrete slab it might not be needed. It would take long term damage for this to happen. If you walk around your home and look for changes in the structure you shoud see this before the seepage gets this bad.

quote:
Can add coverage for fungus, mold, and mildew ($94.13-$117.00/year)
- “Loss caused by fungus, mold or mildew”
- Coverage by percent of dwelling value
-- 25%: $94.13/year
-- 50%: $105.15/year
-- 100%: $117.00/year

Is there no mold coverage at all now? At most 25% but I don't think I would spend the money on it...

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