Don't Sweat the "Micro" Stuff
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Microbial matter, mold, mildew, fungi, call it what you want; but know this is a toxin that can cost you (and your guests) your health, as well as a lawsuit. Although these pollutants can be found naturally on the Outer Banks, the danger and resulting liability of their presence has only recently become pronounced.
Mold and mildew can be found anywhere. Indoors you can find it in showerheads, air-conditioning systems, hot water tanks, and whirlpool jets. Outdoors you're likely to find it in pools or hot tubs. The seasonal nature of our homes can provide prime breeding time for bacteria that like to grow in stagnate water or poorly maintained filters.
When you, your family, or guests are exposed to these pollutants, illness is likely to occur. If someone has a compromised immune system, the result could be death. In 2005 the Outer Banks tragically learned this lesson; a gentleman contracted Legionnaires' disease from a hot tub while on vacation. It was during the resulting lawsuit, most property managers learned that general homeowners insurance often specifically EXCLUDES coverage for mold related events.
Pollution lawsuits for personal injury can result in hefty settlements. With the insurance company excluded from such litigation, the full burden is placed on property owners for the cost of legal representation as well as the final judgment awarded.
Although this is a very serious matter, it is not all doom and gloom; Sun Realty is offering coverage to our homeowners, which will protect you from these serious situations. Initially we found that most owners are not able to afford the massive $10,000 premium that is required for individual policies, so we researched group coverage. Last year Vogedes Insurance agreed to issue a blanket policy to our firm at a nominal rate, allowing us to provide affordable coverage to those of you who wished to be included.
Once again, we are pleased to offer you the option of participating in this insurance protection plan, costing less than $130 a year (per property), and providing up to one million dollars protection per incident, (with a five million aggregate for the year). To learn more about this policy or to be added to the coverage please contact your Rental Manager.