Blanket Insurance Policy
blanket insurance policy
Editorial Roundup: Excerpts From Recent Editorials
By The Associated Press Excerpts from recent editorials in newspapers in the United States and abroad:
Woody Woodpecker Show – Wet Blanket Policy (One True Media)
Who pays for water damage in a condo complex?
There was recently a water leak caused because of a hole in the EXTERIOR stucco in my condo unit that I own. The exterior hole/stucco have now been repaired by the HOA. However, there is water damage to my wood floors.
Who should pay for that? The HOA? The condo’s blanket insurance policy? My personal condo owner insurance policy?
Any advice or tips on making the responsible party pay for my floors being repaired is appreciated. Thanks.
First contact your HOA, if they take responsibility then it will be up to them if they want to file a claim with there insurance company or pay out of the funds in there reserve. If the HOA does not take action right away file a claim with your insurance company. Depending on The covenants, conditions and restrictions (CC&Rs) your insurance company will pay to repair your home and then subrogate against the HOA for the money they had to pay out. If it was me personally I would file a claim with my insurance company so that you have complete control over the contractor selection and the quality of work. If the HOA chooses the company to do the work chances are they will shop based on price not quality. This is your home and you want to make sure you protect what you work hard for.