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Does condo association insurance cover broken water pipes outside?
Wiki User
∙ 14y ago
Read your governing documents to determine who owns the water pipe.
If the pipes are for the sole use of a single owner, then the pipe may be considered 'limited common area', and the owner may be responsible for repair. The association may make the repair, then charge the owner.
If the pipes are for the use of everyone in the community, such as pipes for a sprinkler system, then the association's policy may cover the cost of repair.
Usually, one party is responsible for the repair and one party is responsible for paying for the repair. The 'one party' may be the same party, or it may be different parties.
Wiki User
∙ 14y ago
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What companies in Chicago offer condo association insurance policies?
State Farm, Progressive and Geico are some well known companies that offer condo association insurance policies. There are local and lesser known companies such as Melendez Insurance that offer condo association insurance policies also.
Are collier county Florida condo association insurance costs rising?
A local insurance broker can answer your question.
How much should I be paying for condo insurance?
The value of your insurance depends upon the value of your condo. The important thing is that you have enough insurance to replace the condo. If you got the condo for a low price many years ago you can't insure it for that because you'd not be able to get another to replace if it were destroyed. The cost of the insurance on yor condo is based on several factors. In some cases your condo association will dictate the amount of coverage you must have.
Is homeowners insurance or condo insurance or both responsible for leakage from the roof that has caused damage to the floors ceiling and walls?
In most cases the association is responsible for mantaining the roof and structure. It should the the association's insurance problem.
Where can a condo association in Pennsylvania get only roof insurance?
That would be a silly thing to do. What about the rest of the structure and liability?
How do you get a copy of certificate of insurance for entire condo building you live in?
You can request a copy from your association manager, or broker who sold the master policy coverage to the association.
Who is liable for a fall sustained in a parking lot of a condo?
It's possible that the condominium association carries liability insurance. You can make your claim with the board of directors of the association, who will take it up with their insurance carrier.
IF my upstairs condo is untouched by a flood but the building's ground floor is damaged so badly that the entire building is unlivable would my flood insurance protect me?
Let's first review what a condo is. A condominium is an arrangement in which you own your own living space outright (your condo apartment), and you share joint ownership (with all the other condo owners) of the common spaces. There will be (at least) two insurance policies in effect: (1) the condo association policy, which covers (at least) the common areas, and (2) your own personal policy, which covers the contents of your condo apartment, and depending upon your coverage, may also cover the internal structural elements (walls, floors, ceilings, fixtures, countertops, etc.) of your specific condo unit. Since there is no damage to your condo unit, your personal condo insurance will probably not apply, even if you have flood insurance. So, the answer to your question depends upon what type of policy your condo association holds. You should therefore ask your condo association.
If your condo association is responsible for the exterior of your unit and you suffer interior water damage due to a leak from a foundation problem who is responsible to fix the interior damage?
Let your condo insurance company duke it out with the master policy insurance co.
Is the deductible on a condo-owners association insurance policy considered a loss assessment?
It often is considered that and often a person's policy on their personal condo will extend to pay up to $500 of the Association's deductible. Could be less than $500 depending on how much the Association's deductible is and how many COA members there are.
How to Determine What Type Of Condo Insurance to Buy?
Condo insurance is not the same as insurance on conventional homes or renters. Condo owners need to ensure that their policies cover all their possessions that are not covered by the Condo Association’s insurance policy. By reading the fine print in the purchase agreement and the insurance policy, a condo owner can determine exactly what type of insurance policy will cover what is not covered by the collective insurance already provided. The condo association will normally collect dues from owners to cover common areas of the complex and sometime installations. The association’s bylaws will state exactly what is covered under the association’s policy. The association’s policy may have a deductible, which is usually divided equally among the unit owners. Collectively, owners may have a “bare walls” policy which covers all real property from the exterior framing inward, but does not cover fixtures or installations within a condo unit. Another type of policy referred to as an “all in” policy covers fixtures and installations, along with the structure and any common areas. The owner needs to know if the policy is cash value, which covers the cost of replacing the items minus depreciation, or if it covers the full replacement cost. If the association has a bare wall policy, the owner must buy insurance to cover features such as countertops, bathroom and kitchen fixtures, flooring and personal items. With an all in policy, the owner may only need to cover personal items. Most insurance companies offer a special unit owners policy, but to save money and ensure that all items are covered, the condo owner needs to determine what he owns and what is covered by the association’s policy. Condo owners are typically responsible for insuring just their property, but the rules differ from complex to complex, and it's important to ask the right questions to ensure you have proper insurance coverage. Usually, condo owners are not responsible for cutting the grass or shoveling ice from the front walk, but they must insure that the proper condo insurance is in place to protect them from any lawsuits related to these things.
Can your insurance company force you to allow them to pick up damaged patio cover?
An insurance company covers damage to the property if you bought a Homeowners Insurance Policy. They cannot force you to do anything except to pay for the coverage. A landlord of a house you live in, or a condo association can force you to pick up damaged patio cover because it is unsightly and ruins the look of the Condo. Read the Association Laws.
