In most cases, homeowners insurance policies do not cover mold damage

In most cases, homeowners insurance policies do not cover mold damage. When you purchase a homeowners insurance policy, your insurer will outline the named perils that are covered by your policy. Generally, named perils such as fire and smoke, hail, explosions, vandalism, theft and falling objects are covered. Water damage and its secondary effects (like mold) are a little trickier and whether your policy will cover that damage usually depends on the source of the damage. Because mold remediation can cost up $10 to $25 per square foot, purchasing an optional mold rider may be a worthwhile investment if your insurance carrier offers that coverage.

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