Homeowners insurance provides compensation for events protected under the policy. Covered events can indemnify the policy holder against damage to the home, yard and other structures, personal belonging as well as personal liability if found legally responsible for damage or injury to another. Although homeowner’s insurance is not mandated by law, lenders universally require a policy remain in place for the length of the mortgage to protect the investment. Encumbered properties are subject to force-placed insurance if their policy has lapsed, is cancelled, or has been deemed insufficient. Creditor-placed ‘force’ policies provide rudimentary coverages that protect the mortgagors interests alone and are charged to the mortgagee.
Structural drying, an essential component of water mitigation, is the process of drying building components of a structure once the water damaged building veneers are stripped away. In most instances, the freshly exposed building components such as studs, joists and sheathing for sub-floors are fabricated from wood. Wood being cellulose based is susceptible to microbial activity, which will assuredly take hold if the wood substrate is not properly dried following a water event.