Good Claims Information for CONDO Owners:
Condo owners: Are you being assessed
fees by your Condo Association for damage caused by the recent hurricanes to
your Condo Association Common Property?
Can you be reimbursed?
by your individual condo unit insurance policy for these assessments?
My condo association has assessed each member in the condo association
$1,890.00 for damage to the common property belonging to the association due
to damages from the recent hurricanes. The assessment is being charged
because the amount of damage to the condo association's common property does
not exceed the condo association's’ Master Policy deductible.
Is there any coverage under my individual condo unit
insurance policy that will cover this loss assessment?
Michael Calandra SISCO
Identification Solutions West Palm Beach FL.
please refer to your individual condo unit insurance policy which may
contain the following language:
We will pay up to $1,000.00 for your share of loss assessment charged during
the policy period against you by a corporation or association of property
owners, when their assessment is made as a result of direct loss to the
property, owned by all members collectively, caused by a Peril Insured
Against under COVERAGE A – DWELLING, other than earthquake or land shock
waves or tremors before, during or after a volcanic eruption."
This coverage applies only to loss assessments charged
against you as owner or tenant of the "residence premises."
We do not cover loss assessments charged against you or a
corporation or association of property owners by any governmental bodies.
The limit of $1,000.00 is the most we will pay with respect
to any one loss, regardless of the number of assessments.")
Insurance Services Office, Inc
If the above or similar language exists
in your individual condo unit insurance policy, you may be afforded coverage
up to the limit indicated in your specific policy. The damages to the
association common property may not have to be below the Condo Association
master policy deductible.
You may have to have a copy of the condo association
assessment letter to send into your insurance company in order to be
considered for payment.
Douglas L. LaFaive. ( Douglas L. LaFaive is a Special Feature writer for:
Advocates for the Insured
ä and author of
The Claims Game How to Play to Win! How to ... settle your Automobile Injury
Copyright© 2004 www.claimshelp.com
Please read our disclaimer.
Advocates for the insured" provides information and services to the
We hope that the information provided helps you through the claims
process. Please support this website by visiting our sponsors.
Please contact us with suggestions and comments.
| FAX: 860-535-3823 | Toll Free: 800-501-8119
The information provided is meant to inform the consumer. It is not
meant to provide Professional Legal Advice.
Please read our disclaimer.
Should your property sustain damages from Fire, Lighting, Wind, Water
or any other cause we strongly suggest that you consider and contact
Douglas L. LaFaive & Associates Licensed
Should you suffer a personal injury of any kind we suggest that you
consider and contact a
Professional Attorney to review your options in pursuing a recovery
from the responsible party.
Place your company link here. Free!