Condominium Association Claim

Insurance Claim Help for Condominium Associations

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Property insurance claims involving condominium associations are among the most complex types of claims to handle. Not only is insurance damage often extensive and complex, condominium association claims have numerous stakeholders — each of whom has urgent concerns, opinions, and requirements.

Since 1992, our public adjuster firm has helped hundreds of associations across the United States win settlements for claims that were previously denied or underpaid by insurance companies. We have the contacts, resources and experience necessary to progress and settle even the most complex claims involving claims of all sizes.

 

 

Tips for Organizing a Condo Association Insurance Claim

With multiple policyholders and insurance companies, pressure from condo owners, pushback from insurance companies, conflicting and unclear requirements, confusing and constantly changing statutes, and conflicts over who is responsible for paying what, a poorly managed claim can easily become an insurance claim nightmare.

  • Appoint – Appoint a team of organized unit owners who each have a specific role in the claims process. This will help streamline the claims process. Team members could be responsible for communication with the insurance company, communication with and gathering documents from unit owners, gathering financials and other documents and finding outside experts to present to the Board.
  • Document – Document every point of communication with the insurance company- telephone call, email, text or any other kind of communication.
  • Compile – Each unit owner should compile a simple damage assessment form. This form should include all contact information, any noticeable damage inside the unit, immediately outside the unit, information about any insurance claim filed as well as photographs.
  • Obtain – The association should gather a minimum of 3 estimates from licensed and qualified general contractors to gauge the true cost to restore the property to its pre-loss condition. Repairs should NEVER start until the association and insurance company has agreed to a scope of loss.
  • Gather – Start to gather and organize tax returns, financial statements, maintenance records, association meeting records and repair receipts pertaining to the Association for the last three years.
  • Communicate – Regularly communicate the status of the association’s claim with all stakeholders. Good communication can prevent many potential problems.
  • Consider – If the association’s insurance claim is not progressing quickly, has been delayed by the insurance company or if it’s a disorganized mess, you should consider interviewing experienced public adjuster firms. An experienced public adjuster has the expertise and resources to speed up even the most complex condominium 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 complexities of condominium association claims makes the claim management process complex and challenging. Issues to consider are:

  • Complexity : An insured loss almost always affects multiple units and/or common areas, making the claims process complex. The more extensive the damage, the more difficult it becomes to ensure that all insurance losses are accounted for, substantiated, and ultimately, paid for. Extensive property damage generally necessitates getting a public insurance adjuster involved.
  • Ownership : These claims tend to affect multiple owners, each with their own property insurance policies and a driving desire to promptly restore their homes to pre-loss conditions. Though understandable, 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, adding legal complexity and uncertainty to the insurance claims process. Additionally, case law and changes in code can drastically effect the pace and outcome of a claim settlement.
  • Regulations : While your community may look like a condo association in appearance, it may be governed as a homeowners association. Thus, different insurance regulations and statutes may apply and could affect the outcome of the insurance claim.

Public Adjusters Who Can Guide Your Claim to Completion

With over 50 years of combined experience and unparalleled expertise in assessing, documenting and negotiating condominium association claims, we have all of your needs covered. Our team of public adjusters, property damage appraisers, engineers and claim consultants we have won hundreds of fast and fair claim settlements on behalf of associations after claims had been denied, delayed or underpaid.

In fact, we have a 100% success rate winning our clients larger settlements. If we can’t obtain a better settlement, then you owe us $0. It’s that simple.

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