by ebravo » Fri Oct 15, 2010 04:47 pm
FLORIDA
WATER DAMAGE ISSUE ON A CONDO
UNIT BOVE BATHROOM LEAK AND FILTERED TO UNIT BELOW. OWNER ABOVE TOOK CARE OF PROBLEM IMMEDIATELY
IS THE ABOVE UNIT OWNER RESPONSIBLE FOR THE WATER DAMAGE TO THE UNIT BELOW
OR MUST THE OWNER OF THE UNIT BELOW REPORT WATER DAMAGE TO HIS HOMEOWNERS HO6
WATER DAMAGE ISSUE ON A CONDO
UNIT BOVE BATHROOM LEAK AND FILTERED TO UNIT BELOW. OWNER ABOVE TOOK CARE OF PROBLEM IMMEDIATELY
IS THE ABOVE UNIT OWNER RESPONSIBLE FOR THE WATER DAMAGE TO THE UNIT BELOW
OR MUST THE OWNER OF THE UNIT BELOW REPORT WATER DAMAGE TO HIS HOMEOWNERS HO6
Posted: Fri Oct 15, 2010 06:09 pm Post Subject:
You can handle it either way. If due to negligence on the part of the upstairs occupant, his insurance will cover your damages. If your insurance company handles the claim under your HO6 policy, you will subrogate the right to collect from the other party's insurance company to your insurance company.
When handled through the other party's insurance company, you will not have to front the deductible, as you would when filing a claim through your insurance company.
Posted: Fri Oct 15, 2010 09:22 pm Post Subject:
When handled through the other party's insurance company, you will not have to front the deductible, as you would when filing a claim through your insurance company.
But you also will most likely not get paid 100% of your loss, depending on what was damaged if you go through the other party's carrier.
Posted: Sat Oct 16, 2010 01:09 am Post Subject:
But you also will most likely not get paid 100% of your loss
Explain.
Posted: Thu Oct 21, 2010 07:07 am Post Subject:
Explain
A 3rd party property damage loss. The other party owes ACV...hence may not fully cover the loss.
Posted: Thu Oct 21, 2010 08:03 pm Post Subject:
OK, makes some sense.
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