Mold assessment

More claims & insurance terms

• Mediation

  A meeting where a neutral third person helps the policyholder and the insurer settle a disputed claim without going to court. The mediator does not decide anything - if the two sides still disagree, the claim can move on to appraisal or a lawsuit; many policies require mediation or appraisal before a suit is filed.

• Mitigation

  Reasonable steps taken after a loss to prevent further damage, such as tarping a roof or boarding a window. Most policies cover emergency mitigation, and it must be documented to be reimbursed.

• Mold damage

  Loss caused by mold growth after a water intrusion that was not dried promptly. Most policies treat mold as a limited or excluded peril, so the carrier decides what is paid, and the claim is stronger when the drying records show the structure was handled properly.

• Named peril

  A specific cause of loss listed in the policy, such as fire, wind, hail, or theft. A named-peril policy pays only for the perils it lists, while an open-peril policy covers everything except what it excludes, so knowing which form the insured has changes what you can claim.

• Named storm deductible

  A separate deductible, often higher, that applies when damage comes from a storm the policy defines as a named storm, such as a tropical storm or hurricane. It is often a percentage of the dwelling limit instead of a flat amount, so the policyholder's share is far larger. Exactly what triggers it is set by state rules and the policy wording.

• Notice of claim

  The insured's report to the carrier that a loss happened, which starts the clock on the policy's duties for both sides. Prompt notice is a policy condition, and late notice can be raised as a reason to deny, though how strictly that is enforced varies by state and carrier.

Common questions