Eric Eggert, Business Development Specialist, discusses the importance of maintaining your sidewalk.
There are many reasons to maintain your sidewalk, but the most important one would be to prevent someone from tripping, slipping and falling and getting injured.
Aside from the aspect of not wanting another individual to be injured, there are insurance implications. The main reason why insurance premiums increase is due to claims. Occasionally, an insurance company may increase an insured’s premium because they paid out what they feel to be too much money towards claims in prior years.
In some instances, claim frequency is worse than the claim total amount paid. For example, the insurance company many not have paid out any money on behalf of the insured, but feel that too many claims have been reported and increase the premium based upon the belief that it’s only a matter of time until they do pay out.
A trip or slip and fall is sometimes out of your control, but you can control sidewalks that are in need of repair and address snow and ice in a timely fashion. Generally when an insurance company sees a slip or trip and fall on the community association’s loss history, they want to know why it happened and what was done to prevent it from happening again. If you provide what measures were done to prevent future occurrences, the insurance company may be more apt to provide a quote.
For more information, please contact us.