Insurance question regarding a condo?

Question

I own a condo and have condo owner's insurance + the blanket policy for the unit. There is a leak above my condo's patio door caused by faulty stucco on the exterior. I have requested my HOA fix it and they haven't got around to it. Now, there is extensive damage to my wood floors. Would I have to file a claim under my policy or the condo's blanket policy to repair my wood floors?

Answer 1

File a claim with both yours and the master policy.  Your own policy usually has 10% of your contents amount for building coverage that you are responsible for.

Be aware however, many policies will not cover a "leak" or faulty workmanship or damage done because of.  A leak is often times considered a maintence issue.  If the wind or something damaged the stucco and that caused the water to leak in that would be covered.

Answer 2

Read both policies to see what covers what. I hope that you kept a record of when you contacted the condo people and requested a repair. (both in writing and photo). You pay for maintenance fees to the condo association, so I feel that the association should be responsible for the repairs.

Good luck.

Answer 3

It would be paid under your own condo policy.  You may sue the association in small claims for your deductible.   I don't think your insurance company will go after them for it.

If you sue your condo association make sure you sue for your deductible and to get that repair to the building fixed so this loss does not happen again.   Or contact the insurance company that has the association policy and let me know of the problem.  They may force the association to fix the problem or they will drop them.  They are there to prevent claims from happening.   I would go to them for help.

Answer 4

   If you notified the board, especially if in written form, and they did nothing, you have a good case for compensation.It is very important for you to document any conversations about the situation. Phone calls, personal conversations, other owners knowing of the situation should be written down. Every HOA  document is different. Study it carefully and know your rights. Good luck.

Answer 5

OK, so you say, you have your own condo unit owner's policy, plus there's a master policy in place.

Likely, the damage should be the responsibility of the association, however, many condo master policies exclude coverage for water damage, or have a really high deductible (like $50,000).  So, I would actually file the claim under BOTH, because it's highly likely that your damages are UNDER the deductible for the master policy.  Then YOUR insurance company will go after the association for reimbursement.

Which means, you really need to go to your association first, and say, hey, I think this is association responsibility, according to the bylaws.  Are you guys going to pay this?  And if you don't, I'll file my claim with my homeowners, and if they agree it's assciation responsibility, they'll come after you for the money PLUS claims expenses . . .

Answer 6

Call your insurance company, get the adjuster out there.  Get your insurance company to hassle the condo assn.  If they don't fix the exterior leak, there's not much sense in getting your floors repaired now.  

Answer 7

You need to put it in writing and demand that the association make the necessary repairs. At the same time, you need to inform your own insurer. Your insurer will go after the association to collect (subrogate) any proceeds they pay you, attributable to the fact the association failed to maintain the exterior. Let your insurer slug it out with the association and their insurer.  

Answer 8

Quake22, Home insurance is actually very flexible. I'm not familiar with all the details of my homeowners policy, but my home insurance agent is always helpful. Try contacting your agent or a agent in your town. http://www.easyhomeinsuranceguide.com They will be able to assist you.