Do I Need Extra Coverage on My Mold Remediation Contractor Insurance?

Mold growth can begin within one to three days following water damage on a property. Therefore, one of the first phone calls clients make after a disaster damages their home or business is likely to be for your mold remediation contractor services. You do the best you can to clean up a customer’s property and mitigate further mold outbreaks. Nevertheless, no matter how carefully you word your contracts, you could end up with a disgruntled client who decides to sue you.

If your business handles mold remediation, you need an insurance policy that covers the risks of your industry. Learn how the experts at Hawsey Insurance put together a mold remediation contractor insurance policy designed with your company’s needs in mind.

Covering the Risks of Your Restoration Business

If you have general liability insurance, you may think it covers you against lawsuits and claims of negligence. However, many insurance policies list a number of exclusions not covered by your liability insurance. It’s important to read the fine print since many companies exclude damage related to mold, which can leave you vulnerable to a claim denial.

At Hawsey Insurance, our agents can conduct an audit of your existing insurance and make any recommendations needed to improve your coverage. Additionally, we can help you put together a comprehensive business insurance plan for your mold remediation company.

5 Useful Tips to Reduce Your Risk

You may reduce your risks by following our advice below:

  1. Purchase mold remediation contractor insurance that does not exclude risks faced by mold restoration businesses.
  2. Exercise the right to refuse customers. If someone hires you for mold restoration services, ask for proof of insurance. This allows you to determine whether their home insurance covers mold damage. If not, you may have a hard time getting paid. Clients may also try to take you to court for negligence to get out of paying their bill.
  3. Take plenty of photos and write down your observations before you leave the site. It’s important to have proper documentation of the state of the building before you begin mold remediation services.
  4. Get witnesses. If possible, interview witnesses regarding their observations of the damage present before you started the job.
  5. Treat your customers with patience and courtesy. If someone has just lost a large portion of their home or business due to a flood, fire, or other disaster, they could probably use a little empathy. It can also help you establish a rapport and minimize your chances of getting sued.

Types of Mold Remediation Contractor Insurance

Here are the main types of insurance needed by mold remediation contractors:

Are you ready learn more valuable information regarding mold remediation contractor insurance? Book an appointment with a licensed commercial agent at Hawsey Insurance, serving Mississippi and the surrounding states.