Condominium Association Damage Claims
Condominium Association Damage Claims
Never Settle for Less
Let’s cross our fingers and hope you’ll never have to file a condominium insurance claim. Unfortunately, accidents and disasters can happen, causing millions of dollars of property damage in a short time.
When faced with condo property damage resulting from a catastrophic event, like a hurricane or fire, settling a fair claim covering your condominium for any unexpected loss is invaluable.
Helping communities retain a preset standard of living for all residents to enjoy and dealing with property damage on top of it is stressful enough. You’ll want to arm yourself with an experienced public adjuster who knows the ins and outs of condominium association damage claims to walk you through the process from start to finish, lift some weight off your shoulders, and make the entire ordeal a breeze.
What Does Condo Association Damage Insurance Cover?
Like other types of homes, condominiums face hazardous perils like fire, hail, wind, and vandalism, and condo damage insurance protects against common risks and unexpected claims. Condominium complexes are generally insured by a master policy or an HO6 policy in the name of the Homeowner’s Association (HOA) or a condo association, as required by law, which protects them against property damages due to unforeseen causes.
As you might expect, such policies typically cover damage to all association property, including the structure of the building, the shared amenities and common areas of the Association, condos located within the residential complex or building, and often even property within individual condo units. The owners of individual units are responsible for any coverage areas not provided by the master insurance policy, such as building the property and personal liability.
Whether a condominium association’s master policy will cover the damage is answered in the Condominium Association’s Governing Documents, Declarations, or Bylaws that clearly define what the association is responsible for.
How to File a Condominium Insurance Claim?
Condominium associations are generally responsible for investigating condo property damage, determining responsibility, notifying the association’s insurance carrier, and, if appropriate, making necessary repairs to mitigate the damages. However, every condo association’s insurance terms and by-laws are different, thus, determining where the responsibility of the individual condo unit ends and that of the condo association begins is not simple.
On top of that, condo insurance claims have a knack for getting complicated and involving a lot of paperwork, especially if the damage extends to more than one or even all units within a condominium complex and if the situation is emergent. Navigating the muddy waters and various issues that can arise while pursuing an insurance claim can be a daunting task, as you may not be familiar with the complex laws surrounding property claims.
No need to dwell on it – leave everything to us!
Experienced public adjusters at Elite Resolutions can help you cut through the legal jargon and get you the compensation you deserve, ensuring your rights are protected, and your interests prioritized in the event of a property damage claim. We execute – you get paid.
Why Hire an Expert Public Adjuster?
The claim management process for condominium associations is challenging by nature. The more extensive the damage, the more difficult it becomes to ensure that all insured losses are accounted for and covered. On top of that, policyholders, insurance companies, and conflicting and unclear requirements can often muddle the process of resolving condo damage and prevent you from getting the claims you deserve.
Without taking all the proper steps, a poorly managed claim can quickly become a nightmare. The solution? Hiring a reputable and experienced public adjuster firm for support with the expertise and resources to speed up and maximize even the most complex condo association claims.
From inspection and damage assessment to insurance claim handling and settlement, our Elite Resolutions team leaves no stoned unturned and has got your back every step of the way. Don’t leave anything to chance – ensure you get the best settlement for your condominium association claim and avoid any unforeseen problems by tapping into over 13 years of unmatched industry expertise under one roof.
We Cover All Types of Condominium Association Damage Claims
Our public adjusters are the ace up your sleeve in case of condominium association damages. Over the years, we have helped countless associations successfully navigate condominium association damage claims and effectively protect the Association while balancing their duty to protect the interests of the individual unit owners.
Why settle for less when you can have the best? As independent agents, we don’t work for insurance companies – we work for you. That is why we’ve made it our mission to tackle any problems you might face head-on and go the extra mile to make insurers play by the books, and fight for the fair settlement you deserve.
Have peace of mind knowing your condominium association is protected by experts who have your best interest at heart, with extensive experience with an array of condominium association damage claims resulting from:
- Floods and water incidents
- Hurricanes & winds
- Fire, smoke & lighting
- Theft & vandalism
Let Us Handle Your Condominium Association Damages Claim
Our team has the experience, resources, and contacts to help your association settle even the most complicated claims with the appropriate amount, even those previously denied, delayed or underpaid and welcome any challenge you might bring to the table with open arms.
Time is of the essence – don’t let the frustration of filing a condominium property claim hold back your community. Let us handle your insurance claims smoothly and swiftly, without sacrificing the quality of our services, and claim what’s rightfully yours in no time.
We are never too busy to talk to you or address your concerns – don’t hesitate to get in touch any time to schedule a free consultation and learn more about how we can help with your association’s damage claim.
What Is the Condo Association Responsible for in Florida?
Florida boasts a significant number of condominium associations which are usually covered by the Florida Condominium Insurance Policy (HO6). It typically covers common areas only, including swimming pools, community centers, elevators, hallways, landscaping, lobbies, and gyms, against property damage and personal liability claims caused by accidents in these areas. However, their responsibility may vary depending on the insurance type and terms, and by-laws.
Who Pays for Water Leak Damage?
One of the most difficult questions a condominium association board has to deal with is: Who is responsible for damage caused by a water leak? The answer depends on several factors, which can usually be boiled down to what was damaged, who is responsible for maintaining and repairing the damaged component(s), and if the damage resulted from an accident or negligence.
Who is Responsible for Pipes in Condo Walls in Colorado?
Water damage can be tricky, and responsibility will usually go back to where the water is coming from or who caused the leak. If a pipe leak or burst happened in a unit caused by a tenant’s negligence, they would likely be held responsible for the damage. Everything outside the unit is considered a common element that the building owner or board of managers would be responsible for.