When a claim occurs, the quicker you react, the quicker the claim will be adjusted. What are the steps to take when filing a claim as a Unit Owner in a Community Association?
- Know what your policy covers. By reading your policy carefully, you will know what is covered and for how much. It’s good practice to be aware of policy coverage details before you’re in a less-than-ideal situation because it will make the claims process that much smoother for you and your family.
- Know your responsibilities. Responsibility for your damages is determined by the association’s governing documents. Typically, unit owners are responsible for your personal property (contents) and any betterments or improvements you’ve made, regardless of what the cause of the loss is.
- Alert management of any damage. Speaking with building management will help you determine if a claim is necessary. If it’s a water stain on your ceiling, for example, it may not warrant a claim, just some sealer and paint.
- Alert your personal insurance carrier once you’ve spoken with building management and determined the extent of the damages.
- Consider if the damage will exceed your deductible. Get estimates and determine if it is more cost-effective to repair the damage without making a claim. If the cost to repair is lower than your current homeowner’s policy deductible, you can likely take care of the repair on your own. It will save you time and money in the long term. When determining repair or replacement costs, be sure to get at least three estimates and keep copies. Not all contractors are created equal.
- Document everything. Keep copies of receipts and estimates, take photos and videos, and write down any information that could be important. Insurance companies may deny a claim if all the facts and events associated with the claim are not documented.
- File the claim in a timely manner. Your policy will have a time limit for filing, especially if your tardiness has led to more damage, such as mold after a flood, which will make the remedy more expensive. The sooner you file, the better.
- Keep up with home maintenance around your unit. Claims are often unavoidable, but the more proactive you are, the better prepared you’ll be when a situation arises.
As always, we are here to help and answer any questions you may have.
