Schmitt's example may be extreme, but mold damage is not unusual.
In 2022, water damage, including mold, represented 27.6% of homeowners insurance losses, according to data from Insurance Services Office, an industry group.
Despite the award for the owner of the mold-damaged home later being reduced to $4 million, companies still pulled back on mold coverage.
"Mold claims won't be covered if it's a result of neglect, such as pipe leaking for months resulting in water damage and mold."
"You should always read your insurance policy and understand what you have, but no one's going to do that," Kochenburger said.
Persons:
Brandi Schmitt, Schmitt, Brandi Schmitt's, adjuster, USAA, Read, Kamala Harris, Harris, Joseph, Ms, Ballard, Amy Bach, United, Bach, Scott Shapiro, Will Melofchik, haven't, Melofchik, Scott Holeman, Holeman, Peter Kochenburger, Kochenburger, it's, Mold, Shapiro, Mark Friedlander
Organizations:
Maryland, CNBC, Finance, Here’s, Democratic, Insurance Services Office, . Farmers Insurance Group, KPMG, National Council of Insurance, Insurance Information Institute, Southern University Law Center, University of Connecticut's Insurance Law Center, Insurance, South Carolina Independent Agents, Nationwide, Allstate, Federal Trade Commission, Act, State Farm
Locations:
Lothian , Maryland, U.S, Maryland, Texas, San Francisco, South Carolina, Lindsey , Ohio