Live within Condo, Broken Water Main, Must File Insurance Claim Questions?
Water main broke surrounded by early May (lets speak May 4th) underneath sub floor of garden unit. At the time, the single insurance the association had be basic (policy held for nearly two years). Purchased an consent in mid-May (18th) that would cover the broken river main and the despoil caused by such.
Called insurance surrounded by late July (22nd) to record claim. Insurance person asks when did the wound occur. Can't really remember the date but you read aloud mid-May (16th). A claims adjustor is supposed to call you inwardly 24hours.
1) If endorsement is purchased after harm occured, will damage be covered? 2) What question will the claims adjustor ask? 3) Typically, how long does it take to settle a claim? 4) Should a condo owner report a claim with his own homeowners insurance contained by addtion to the associations insurance?
Answers:
First past its sell-by date before you breed a claim, get your facts straight. You can efficiently call the river company and ask to check their records to see when they be out there to fix the broken principal. If you file a claim clich¨¦ a loss occurred after you purchased coverage, but within fact the loss occur days before the coverage be purchased, the worst that will happen is that they can name the police and file charges of insurance fraud, at best they will deny your claim and consequently red flag your policy so that when renewal time comes up they will decline to renew your policy. After that good luck trying to attain insurance elsewhere with that glitch on the narrative.
1) No
2) Typically who, what, where, why and how. They would also want names/phone numbers of witnesses (probably not applicable here), as in good health as asking questions more or less anything out of the ordinary (such as why did you hang around two months to file a claim). They would also want a copy of any estimates that you enjoy.
3) Depends on the complexity of the case. If within is any dispute as to the value of the loss, or whether the loss be caused by an insured peril, it could bring a week or it could take a few months.
4) If nearby was any mar to their unit interior or its contents, noticeably. If the building insurer denies the claim, the cost of repairs will have to be equally divided amongst the part owners. In which case their policies should own a coverage to protect them in the event that an uninsured loss is divided amongst the section owners.
Helluva can of worms you enjoy here. All sorts of red flags on this one that could lead to adjectives kinds of trouble for the condo assoc and any tenant
1. No
2. Depends if they catch coverage issue or not. Most question will be about the timing of both the loss and when the support was added. They will want to know if the say-so was added surrounded by person and any paperwork signed.
3. Again depends on if they lock in the coverage issue. Could be several months on this file
4. Yes, assuming that your policy be in force it should cover any hose down damage to your personal items. Most condo owner policies won't cover damages to the sheet rock, studs etc. If you haven't already done so contact your company ASAP!
1. No. 2. They're going to want to contact the water company, which will show when the drastic increase within water consumption occur - which will prove your claim fraudulent. 3. When coverage is not questioned, this type of claim typically take a week to two weeks to settle. In your case, beside a claim 9 months old, it will whip a LONG LONG time, because the damage is outmoded, the claim is old, it's a short time ago being reported, and even if you didn't right to be heard the endorsement be added after the claim, this just SCREAMS fraud. 4. Yes. The association policy will NOT cover any piece of the building the owner is responsible for - typically drywall in, or studs contained by, and it won't cover any contents. Also, the association policy probably has a REALLY glorious deductible - somewhere between $5,000 and $10,000. Additionally, depending on how the water get into the unit, there's a really strong unsystematic that it's actually a FLOOD claim, which isn't going to be covered ANYWAY. Although the section owner probably doesn't have flood coverage any, and even if they did, it doesn't cover contents stored below ground level (like a basement).