Mold Insurance Coverage for Homeowners

A new bill soon be introduced to Congress called the "Melina Bill", may solve mold problems for homeowners. The bill will create a national insurance program that will protect homeowners against losses from mold. This is just great news. Some houses are difficult to get mold coverage - especially if there was a water claim on it.

A few states don't allow insurers to exclude mold from homeowners insurance policies. However, the majority of states allow the exclusion of mold on the policies - but may be purchased for an additional fee.

Mold can result in major losses. Having mold coverage is important to prevent unexpected financial loss. In the states that allow insurers to exclude mold, you can likely add on a rider (additional coverage) on your policy, or shop for a home insurance company that offers the coverage.

Not only can mold cause major losses, but it is unhealthy for you. It can cause coughing and make you feel sick. So maybe this year, you should ask for a mold inspection for Christmas.