Getting renter’s insurance is a good way to protect your belongings when renting a place from someone else. Landlords and unit owners usually have property insurance to cover structural damage. But what happens when the dangers of mold infestation force you to leave your home until the owner makes necessary repairs? Your policy needs to include additional living expenses to cover the cost of temporary relocation.
Your landlord should take proper steps to avoid the possibility of mold infestation or resolve the situation when mold is discovered. A well-ventilated home with an air-conditioning or dehumidification system to keep the indoors at ordinary temperature helps prevent mold. Mold can grow from excess moisture, risking illness from respiratory disorders or immune system responses. Mold infestation also threatens damage to your possessions. Because lawsuits have resulted from the problem, property owners typically take action to avoid unnecessary consequences.
Understand Your Policy
Read your policy or contact your insurance agent to find out if coverage includes relocation expenses. Companies usually increase premiums for the coverage, so ask your agent about relocation expenses when buying renter’s insurance. Insurance companies and policies differ. Water damage, inoperable dehumidifiers or condensation problems that cause air quality issues increase the risk of mold growth. Your policy might cover damage to your belongings and relocation expenses when these problems develop.
If you need to relocate, renter’s insurance with relocation coverage takes care of your expenses with limits. The policy could pay for a comfortable hotel room until completion of repairs in your home. However, the limits might stipulate an amount that equals the rent you currently pay or a specific amount. So, you can’t expect to stay in the finest five-star hotel. Issues also depend on the lease agreement with your landlord. The lease might allow a stay in another rental while repairs are made, with the landlord paying the same amount as your monthly payment. Your policy could make up the difference if you must pay more for your temporary residence, but you need to clarify the allowances with your agent and the policy.
Check Your Lease
Reputable landlords don’t want to wind up in court because of mold issues. You have a right to relocate when dangers threaten your health. Lease agreements sometimes require you to obtain renter’s insurance and specify relocation matters. Leases might also require you to pay for mold inspection or require you to notify the owner immediately of any water damage to protect landlords from claims of unlivable conditions. It’s best to work with your landlord and your renter’s insurance company as soon as you notice any damage that risks mold infestation.
- Creatas/Creatas/Getty Images