by rocketgirl02 » Tue Aug 07, 2012 02:46 am
I own a Condo and am wondering, if my Condo Insurance Policy covers this type of loss. The air conditioning leaked and cause the kitchen floor to buckle. New Jersey Condo Policy with Chubb Insurance Company.
Posted: Tue Aug 07, 2012 01:23 pm Post Subject:
You need to check with the Assn. and get a copy of the by-laws to see who owns what. You should actually ahve a copy o fth eby-laws provided when you purchased the condo and updated when necessary. There will probably be two claims, one by the Assn and one by you. The claim is probably covered in each policy. However, the Assn usually has a high deductible and even though they will participate, they will also send out an assessment to all owners. Most condo policies have an assessment clause and will pay if it is a covered loss.
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