Condo Insurance Claims

No one ever wants to have to file an insurance claim of any kind. With condo insurance, there's no exception. But accidents and disasters do happen, so a policy that covers you for unexpected losses due to many different disasters ranging from break-ins to fire is invaluable. 

If you suffer property loss or damage covered by your policy, you can receive compensation for your losses by filing a claim. If you have an independent insurance agent, they can even help file claims for you directly. But for now, here's an easy guide to filing condo insurance claims.

Knowing When to File a Condo Insurance Claim

Condo insurance, also known as HO6 insurance, is designed to cover damage or injuries that occur at your home. A condo association’s master policy covers damage to the structure of the building and the common areas. Your personal condo insurance policy is designed to cover incidents that affect the interior of your unit, but it can also cover incidents of liability away from your home. 

Sometimes, however, it may be hard to determine which policy should cover damage to your living space. If a leaky roof causes damage to your condominium’s walls or carpeting, your policy and the condo association’s master policy might be responsible for covering the damage jointly. It's helpful to know the terms of the master policy for your condo association. When you feel it may be time to file a claim, contact your condo association representatives because the two insurance companies may need to work together.

What Information Do You Need to File a Condo Insurance Claim?

Before you go through with filing a condo insurance claim, it's helpful to have the following information ready:

• Details of your condo association's master policy and their insurance company
• Your condo association's master deed
• Your condo association's by-laws
• Details of any property lease agreements
• Details about the incident that took place
• Your personal insurance policy's coverage details

Having this information on hand before you make a call or go online to file a claim can help streamline the process. If you speak with an adjuster directly, they can use this information to help determine if it would be your personal policy that would cover the claim, your condo association's master policy, or a combination of both.

How to File a Condo Insurance Claim

When it comes time to file a condo insurance claim, having a simple checklist of steps to take can greatly simplify the process. To file a condo insurance claim, take the following steps:

• Contact your condo association and tell them about the loss you've experienced.
• Find out if your condo association will be filing a claim through their master policy, and if so, the details of their insurance carrier. 
• Contact your independent insurance agent to tell them about the loss.
• Make note of the time and date of the incident.
• Document all the damage with photos or a video.
• Write a detailed list of all personal property that was damaged or stolen, as well as each item’s estimated value.
• If your loss involves damage that requires repairs, you may want to get several estimates from reputable contractors for the work to be done.
• Schedule a visit with a claims adjuster from your insurance company to evaluate the damage in person.
• Stay in touch with your independent insurance agent throughout the claims process because they can provide you with ETAs for every step, including when you can expect to receive reimbursement.

If determining the value of your loss is easy, the claims adjuster may give you a check on the spot. However, if there's a need for additional information or research, you may not receive payment right away.

Why Condo Insurance Claims Get Denied

The most common reason for a condo insurance claim to get denied is that the policyholder tried to file a claim for damage that's not covered by the policy. Remember that flood damage or damage to belongings not covered by your condo insurance will result in a total loss if you don't add appropriate insurance endorsements or additional policies. Flood damage caused by natural sources like rainfall, hurricanes, tsunamis, etc., is only covered by flood insurance. 

For valuable items like jewelry, you may need to add floaters or valuable personal property endorsements to your condo insurance to get full reimbursement. Condo insurance provides coverage for valuable items like jewelry, but often with limits that cap this coverage at a certain amount. Having a detailed understanding of your policy beforehand can save you time and frustration.

Occasionally, the insurance company may suspect fraud. If the insurer suspects that the damage is caused by your negligence or intentional acts instead of a tornado, for example, they may reject your claim. 

Insurance companies may also suspect insurance fraud when policyholders claim the loss of expensive items for which they have no documentation. This is why it's necessary to keep photos and receipts for your valuables.

If you feel that your claim has been unjustly denied, you can appeal the decision. As a policyholder, you're entitled to have visits from three different claims adjusters. 

You can also file an appeal with the Department of Insurance (DOI) in your state or hire a lawyer to argue your case. Be prepared to have as much backup documentation as possible when appealing. Your independent insurance agent may also be able to help you.

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Why Work Together with an Independent Insurance Agent?

Contact an independent insurance agent in your area to learn more about condo insurance. These agents can help you find the best coverage and rates for your unique needs and help you navigate the claims process with ease in the event of a loss. They can also help you update or change your coverage down the road as necessary.