Once the "toxic" mold (insurance) debacle started in Texas, I coined the phrase: 'the circus goes on'.
And one of these days when the good people of Texas can neither afford nor find available homeowners insurance to cover fire and wind or any kinds of loss, those who ascribed to the 'mold is gold theory' will finally understand what a few of us were trying to say.
Ya'll keep it coming, it's more fun to watch than Barnum and Bailey.
I recall in Texas going through a detailed explaination of coverage and while there was none, and ay the end the homeowner looked at me and said, I understand there is no coverage for the water damage, but what are YOU going to do about the mold. NO wonder they have 1% deductibles, very limited coverage and pay big $$$s for what little they get.
The insured is already the loser. The HOB is all but gone and the state had to offer a policy for those that cannot get one. The insured after getting through the claim process is having to deal with some vendors that wreck their home, hold their contents as hostage and others that go broke before finishing the job and leave. The repair process delays often exceed the ALE coverage. I have heard that some insureds regret making a claim.
I read a SF HO policy (new form) and noticed the real problem in Texas for years was eliminated by one word "direct" {physical loss} No wonder adjusters in Texas can't find work "the maintanace policy is not written anymore". O well the water remeadiation contractors are also hurting big time.
Texas mold
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Posted - 05/27/2003 : 21:48:27
