2000s: US insurers excluded mold coverage due to lawsuits, costs, and health risks; mold-related claims continue to rise.
In the early 2000s, US insurance companies began excluding mold coverage from policies due to lawsuits, high repair costs, and health risks. As severe weather events increase, water and mold claims may become more prevalent, leading to costly repairs. Homeowners often discover mold coverage exclusions and limitations in their policies, with mold damage accounting for 27.6% of homeowners insurance losses in 2022. Consumer advocates continue to push for mold coverage, while insurers cite concerns over claims costs and health outcomes.
August 11, 2024
3 Articles