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Condominium Association Claim

Insurance Claim Help for Condominium Associations

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Condominium associations typically involve some of the most complex property insurance claims. This is partly due to extensive insurance damage and partly the fact that condominium associations tend to have numerous stakeholders, each of which has their own opinions, requirements and concerns.

Call us at 800-572-7914 today or contact us online for help filing your condominium insurance claim. Our public adjuster firm has been in practice since 1992, helping hundreds of associations across the country win settlements for previously denied or underpaid claims. We have the experience, resources and contacts necessary to progress and settle even the most complicated claims big and small.

Tips for Organizing a Condo Association Insurance Claim

It’s easy to see how a poorly managed claim can become a nightmare without taking the right steps. All too often, multiple policyholders, insurance companies, pressure from owners, and conflicting and unclear requirements can muddle the process and prevent you from getting the claims you deserve.

Take these steps to ensure a smooth condo insurance claim process:

  • Appoint – Appointing a team of organized unit owners, each with a specific role in the claims process, can help streamline the process and ensure clear communication with both the insurance company and stakeholders.
  • Document – For your records, document every point of communication between yourself and the insurance company.
  • Compile – Each unit owner of your condo should compile an individual damage assessment form, including contact information, any noticeable damage inside the unit or immediately outside, information about any insurance claims filed and supporting photographs.
  • Obtain – The association should obtain at least three estimates from licensed general contractors to determine the true cost of restoring the property to its pre-loss condition. No repairs should begin until the association and insurance company have agreed on a scope of loss.
  • Gather – Gather and organize all financial statements and records, including tax returns, maintenance records, association meeting records and repair receipts pertaining for the last three years.
  • Communicate – Communicate the status of the association’s claim with all stakeholders on a regular basis to avoid potential problems.
  • Consider – If your insurance claim is not progressing quickly for any reason, consider interviewing experienced public adjuster firms for support. An experienced public adjuster has the expertise and resources to speed up even the most complex condo association claims.
What Ron Says About Condominium Insurance Claims:
Ronald Delo

Ronald Delo

“Due to the complex nature of condominium structures as well as high deductibles, insurance companies often unjustly deny condominium association claims. Condominium denials often result from an incorrect valuation of the scope of damages and/or an improper investigation of the loss.
If you’re condominium association’s claim has been denied because “the scope of damage does not meet or surpass the deducible,” then you must hire an experienced public adjuster ASAP.”

 

What You Need to Know about Condo Association Claims

The claim management process for condominium associates is often complex and challenging. Keep these issues in mind as you progress through the claims process:

  • Complexity: An insured loss at a condominium almost always affects multiple units or common areas, complicating the claims process. The more extensive the damage, the more difficult it becomes to ensure that all insured losses are accounted for, substantiated and covered. A public insurance adjuster is often a necessity for dealing with extensive property damage.
  • Ownership: Because condominium claims tend to affect multiple owners, each with their own property insurance policy and urgent motives to restore their homes as quickly as possible, it’s not unusual for conflicts to arise concerning at-fault parties, repairs, priority and responsibility.
  • Legality: Associations are subject to an ever-changing statutory environment, which adds legal complexity and uncertainty to the insurance claims process. These factors can drastically affect the pace and outcome of a claim settlement.
  • Regulations: Some condominium associations are actually governed as homeowners associations, thereby affecting regulations and statutes, and ultimately, the outcome of your insurance claim.

Public Adjusters Who Can Guide Your Claim to Completion

With over 50 years of combined experience assessing, documenting and negotiating condo association claims, our team can cover all of your needs. With experienced public adjusters, property damage appraisers, engineers and claim consultants, we have everything it takes to win fast and fair claim settlements on behalf of associations, even after claims had been denied, delayed or underpaid.

In fact, we have a 100 percent success rate in winning our clients larger settlements. If we can’t obtain a better settlement, you owe us nothing. It’s that simple. Contact us today to get started.

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