Molds in your home can cause health problems and structural damage. The home buying and selling community is abuzz with talk about insurance and liability issues involving stachybotrys chartarum, also known as black mold or toxic mold. Some homeowners have even burned down their homes, and everything in them, because they felt it was the only way to eradicate toxic mold from their surroundings.
Juries have awarded huge sums of money to homeowners who initiated lawsuits against their insurance companies, with most awards given to people whose insurer did not pay for moisture-related repairs in time to prevent severe mold problems. Awards have also gone against home builders when juries felt that shoddy worksmanship contributed to the mold.
Most homeowner policies now include a clause that excludes or limits payments for mold-related issues. While mold is a problem, in most instances its growth can be prevented or stopped before it causes excessive damage.