Arizona insurers limiting mold coverage
Cleaning and Maintenance Management
Online, 9/23/02
TUCSON, AZ —
Arizona insurers are following the lead of Texas and Florida insurers, by excluding or
limiting coverage for
mold damage from homeowners' insurance policies, the Arizona
Daily Star reported.
State Farm,
Arizona's biggest insurer, and Allstate, the third-largest insurer, have both changed
their policies to exclude mold coverage, according to the article.
These
changes come in the wake of a skyrocketing amount of mold claims across the country,
including a $32.1 million award against Farmers Insurance in Texas last year.
In Arizona,
water claims are the second-largest contributor to homeowners insurance costs; having
pushed the average cost of homeowners' claims 29 percent higher in 2001 compared with
1999. |
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