home insurance claim after water damage

[Erik Pacpaco]

We had a plumbing leak in our rental and there was damage to the flooring to the bathroom, kitchen, hallway as well as one bedroom. It was so bad that the tenant contacted us with a video showing the water seeping through the flooring when you stepped over a section of the flooring. Well we responded immediately and had a plumber there in the morning. Besides the damages to the flooring, (possibly black) mold was discovered after the plumber opened the wall behind the shower to make the repair. Has anyone gone through their home insurance to have water remediation and mold treated? Would like to hear other people’s experiences and what they have gone through. This is the first insurance that we have ever made on this property. Where I am now, the home insurance company told me to get a water remediation company to go in and instructed them to proceed and replace the flooring. We will be putting up our tenants for one night in an airbnb and the water remediation will be begin on sunday Will my premium shoot up and spike to a level where the cash flow will significantly be affected? Will the spike in the insurance premium stay high forever or will it decrease over time.