3 Things You Need To Know About Business Insurance and Mold
Commercial Insurance and Mold Damage
When you went into business, you likely thought a great deal about equipment, inventory and customer demands. You may not, however, have contemplated dealing with mold growth. Still, in Creve Coeur,MO, mold removal is often part of doing business. If you have a mold in your factory, warehouse or other commercial facility, you should know a few things about commercial insurance and mold damage.
1. Mold Can Bring Your Business to a Standstill
Black mold has developed a terrible reputation in recent years. Hardly a day goes by when you can’t read about mold contamination in the newspaper. If you have mold in your building, it can bring your business to a standstill. Since mold can damage inventory, equipment, structures and furnishings, you must take it seriously. Fortunately, depending on the severity of your mold problem, professional cleanup usually only takes between three days and one week.
2. Insurance Usually Covers Mold Cleanup
You have commercial insurance to protect your property from damage. While most claims relate to storms, your insurance policy likely covers damage from mold. With mold insurance, you don’t have to foot the bill for professional remediation. When you contract with a mold-remediation service, you take advantage of equipment, expertise and skill to successfully cleanup the mess. While you may have to pay a deductible, many remediation expenses may fall within the terms of your policy.
3. Some Exclusions May Apply
When considering whether you have to pay for mold removal, you need to read through your insurance policy. That is, not all commercial packages cover the cost of mold cleanup. If you aren’t interested in poring over legalese, talk with your insurance agent to see what your policy covers.
With commercial insurance, you have the peace of mind to do business effectively. Before you find mold inside your business, be sure you have sufficient insurance coverage.