Mold Matter Insurance: Coverage for Contractors
Mold is one of those problems all contractors have dealt with at some point. Whether it’s a leaky window or drywall that didn’t dry quite right, mold can quickly and easily delay projects and cost contractors thousands of dollars in liability and remediation costs.
This is where Distinguished’s mold matter coverage comes in, offering contractors financial protection against mold-related claims. With our expertise, comprehensive coverage, and superior claims handling, we can provide a policy that effectively shields your financial well-being from mold-related incidents.
In this article, we’ll discuss the benefits of mold matter coverage and why it’s so necessary on any job site, so you can make sure your clients are properly covered regardless of what kind of job site they’re working on next.
What is Mold Matter Coverage?
Mold Matter Coverage provides contractors with financial protection against claims related to the presence of mold and related remediation costs on their job sites.
This can include covering things like:
- Third-party bodily damage: Injuries other people suffer due to a covered mold incident
- Third-party property damage: Damage to other people’s property due to a covered mold incident
- Cost of clean-up: Costs related to clean-up of the mold so that construction can continue
Mold matter coverage is generally not sold on its own. For instance, at Distinguished, we offer mold coverage in our environmental and construction professional insurance packages.
Common Causes of Mold on Job Sites
Given the right conditions, construction and renovation sites can be hotspots for mold growth. Understanding the common causes of mold can help contractors and site owners implement effective preventative measures to avoid these problems in the future.
Here are just a few of the most common mold causes to be on the lookout for:
- Moisture: Mold spores thrive in moist environments. Make sure to look out for improper drainage or leaks on job sites that may lead to these conditions.
- Inadequate ventilation: Poor ventilation caused by undersized HVAC systems create pockets of damp, stale air where mold can flourish. This is an especially large problem in humid climates.
- Building materials: Certain materials, like wood and drywall, can be more susceptible to mold growth if exposed to even a bit of moisture. If working with these materials, make sure the proper precautions are taken to protect them from mold.
- Delay in construction: Unfinished projects exposed to the elements for prolonged periods may promote mold growth, particularly in wet weather. If construction needs to pause, ensure sites are properly shuttered and frequently inspected.
- Contractor mistakes: Even the most skilled tradespeople can make mistakes. Make sure you work with only the most reputable of workers to minimize any mistakes that could promote mold growth.
Why Do Contractors Need Mold Matter Coverage?
Compared to construction mishaps or structural failures, mold issues can seem like small potatoes. However, the truth is mold can quickly become a problem that costs companies hundreds of thousands or even millions of dollars if it’s not dealt with quickly.
For instance, in 2018, a Florida woman was awarded $48 million after mold caused by her leaky roof led to her contracting a permanent disability. This is, of course, an extreme example, but without mold liability coverage, this kind of unexpected expense could pose a serious threat to your business’s financial health.
Get Comprehensive Environmental Insurance with Distinguished
Distinguished offers a number of environmental and pollution insurance policies perfect for contractors and site owners alike. These include:
- Contractor’s Pollution Legal Liability Plus (CPL)
- Contractor’s Pollution & Professional Legal Liability Plus (CPPL)
- Owner’s Professional Protective Indemnity Plus (OPPI)
- Pollution Legal Liability Plus (PLLP)
- Follow Form Excess Liability Policy
With each of these policies, you can access our mold matter coverage as part of a more comprehensive package that suits your specific needs.
Other advantages of choosing Distinguished for your environmental and professional insurance needs include the following:
- Quick responses: We have a dedicated underwriting and claims team that provides quick turnaround times on all applications, queries, and claims.
- Decades of knowledge: We bring years of industry experience to the table, providing efficient and accurate quotes tailored to your specific requirements.
- Comprehensive policies: We offer best-in-class policy forms backed by an A- rated insurance carrier, ensuring high-quality coverage.
- Personalized solutions: No client is too niche for us. Drawing from our extensive experience, we can craft unique policies to cover most of your client’s environmental exposures.
If you have any questions about the specifics of our environmental insurance or Contractor’s Professional policies, please reach out to dstepenosky@distinguished.com.
Sign Up With Distinguished Programs Today
If you’re an insurance agent or broker looking to get your client’s environmental insurance with Distinguished, you can start online today. Simply register with us and then submit the appropriate application form to get the process started.
For more information, check out any of our program pages or the brochures linked below:
- Contractors Pollution Legal Liability Plus Highlight Sheet
- Contractor’s Pollution & Professional Legal Liability Plus Highlight Sheet
- Follow Form Excess Liability Policy Highlight Sheet
- Owners Professional Protective Indemnity Plus Highlight Sheet
- Pollution Legal Liability Plus Highlight Sheet
- Environmental Claims Marketing Sheet
- Contractor’s Pollution & Professional Legal Liability Project Highlight Sheet
- Distinguished Environmental & Construction Professional Overview
- Contractor’s Pollution Claim Scenarios
- Lender Liability Claim Scenarios
FAQs About Distinguished’s Environmental and Construction Professional Insurance
Who is the carrier for Distinguished’s Environmental and Construction Professional Insurance?
Our coverage is provided by SiriusPoint, an AM Best and S&P A- rated carrier.
What limits do you offer?
Liability limits are available up to $25,000,000 per occurrence / $25,000,000 in aggregate.
How do I submit business?
For new brokers: Register your brokerage and then send a filled-out application to Doug Stepenosky at DStepenosky@distinguished.com.
For returning brokers: Contact your favorite Distinguished Environmental and Construction Professional Underwriter.
Not seeing the answers you need?
Check out our more detailed Environmental and Construction Professional Insurance FAQ page, or contact one of our insurance experts for more details.
About Distinguished Programs
Distinguished Programs is a leading national insurance Program Manager providing specialized insurance programs to brokers and agents with specific expertise in Fine Art and Collectibles, Environmental and Construction Professional, Executive Lines, Inland Marine, Real Estate & Builder’s Risk, Community Associations, Surety, Hotels, and Restaurants. Property and Liability products are distributed through a national network of agents and brokers. Serving the same core markets and partnering with the most stable and reputable carriers, Distinguished’s high-limit Umbrella programs remain the clear choice in its area of specialty for superior coverage, competitive pricing, and attentive service. Through thoughtful innovation, stemming back to 1995, Distinguished Programs fosters growth and opportunities for its brokers, carriers, and employees.
View a full list of our programs and submit business with Distinguished.
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