In life, we like to hope that nothing will go wrong, and we have to live a life of caution. We need to consider the risk of fires and flooding without letting our lives be affected by the apprehension and anxiety. Sadly, even the best prevention methods can’t stop all fires and flooding. What’s more, we also have to contend with natural disasters such as hurricane and tornados.
If your condominium has been damaged by any of the above, you’ll need to claim on your condo association or community association property insurance. Compared to homeowner’s insurance and the like, the process is a little different and they tend to vary depending on the community associations and properties in question.
If you’re yet to make your claim, we advise you to do it as soon as possible. Elsewhere, you may have been underpaid or even denied completely. If this is the case, we can help at Cannella Legal. If you feel as though you deserve more and you’re being unfairly denied, reach out to us today.
Determining the Details
After getting in touch with the association, they will first want to assess the damage, the location, the applicable policies, and their own responsibilities. For example, most states now have laws in place that force condo and community associations to provide some level of insurance.
While they’re doing this, we recommend reviewing your policy and really looking at details such as coverage limitations, deductibles, endorsements, and exclusions.
Filing a Claim
Of course, these types of associations have a board of directors and a manager so determining all the details will be important for all parties. After going through their initial investigation, the association should confirm coverage and suggest the course of action.
When pushing for a settlement and recuperating costs through the insurance company, the board members and directors will need to be involved in the process. In most cases, the association will actually be the loss payee rather than the owner of the individual unit. Therefore, it is they who decide whether repairs and settlements should be accepted or rejected.
If you believe the amount being suggested is too low or a claim has been denied by the insurance company, perhaps you just want advice about your rights under the association, call us today at Cannella Legal.