HO-6 insurance: How much condo insurance do I need?

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PostPosted: Tue Jan 04, 2011 2:15 pm   Post subject:   

Thanks for your answer, what happens if the condo neighbor caused fire to your unit but has no condo liability insurance?



another scenario is if the neighbor does not have condo liability insurance but he owns another home and has homeowners insurance (HO-3), will the homeowners insurance liability cover his fire damage to other units?



Thank you very much.


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PostPosted: Tue Jan 04, 2011 10:32 pm   Post subject:   

Thanks for your answer, what happens if the condo neighbor caused fire to your unit but has no condo liability insurance?



another scenario is if the neighbor does not have condo liability insurance but he owns another home and has homeowners insurance (HO-3), will the homeowners insurance liability cover his fire damage to other units?



Thank you very much.


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PostPosted: Wed Jan 05, 2011 6:54 pm   Post subject:   

Quote:
what happens if the condo neighbor caused fire to your unit but has no condo liability insurance?




That's part of the reason you have your own property coverage. You would sue the rat for not having liability insurance, and have to pay back any money you collect to your insurance company (it's called subrogation), up the full amount they paid on your behalf.



Quote:
if the neighbor does not have condo liability insurance but he owns another home and has homeowners insurance (HO-3), will the homeowners insurance liability cover his fire damage to other units?




Probably not, but it would be worth filing a claim, since liability is a "personal" thing, and a claim could follow to another underlying policy. To be successful, you would have to prove that he DIRECTLY caused the fire that led to your damages (such as he left a candle burning, or he was careless in the use of a welding torch -- something like that).


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PostPosted: Fri Jan 07, 2011 11:38 pm   Post subject:   

What happens if the fire is not due to "NEGLIGENCE"? Then who is responsible for the damages to the other units? The Condo Association's Master insurance liability or the neighbor's condo liability insurance or your own condo liability insurance?



Thank you.


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PostPosted: Tue Jan 25, 2011 10:07 pm   Post subject:   

I would like to ask


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PostPosted: Wed Jan 26, 2011 1:37 pm   Post subject:   

Quote:
What happens if the fire is not due to "NEGLIGENCE"?




Sorry, did not see this until now. What was the cause of the fire? Where did it start?


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PostPosted: Thu Feb 03, 2011 6:50 pm   Post subject: Insurance  

Does Florida lew require for a owner to have HO-6 policy?


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PostPosted: Fri Feb 04, 2011 2:35 pm   Post subject:   

No state REQUIRES anyone to have insurance on a condominium. You lender probably does, in order to protect its interest in your property.



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PostPosted: Fri Apr 29, 2011 2:25 pm   Post subject: HO6-sheet rock, state of Florida  

my insurer says that the condo association, not the HO6, is responsible for the sheet rock to replace damaged walls. Can you please clairfy? Thank you


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PostPosted: Fri Apr 29, 2011 2:54 pm   Post subject:   

Your insurer may be wrong. You'll have to read the CC&Rs for your association to know what you are or are not liable for in the event of a fire or other loss inside your unit.



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PostPosted: Tue May 17, 2011 2:15 pm   Post subject: basic insurance for condo  

Florida law required liability insurance, what is minimum


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PostPosted: Wed May 18, 2011 10:15 pm   Post subject: HO-6 Insurance  

Just FYI - most condo associations do not cover bursting pipes and this is also not covered under contents coverage of an HO-6 policy. The only way to be covered in the event that your pipes burst and flood your unit or an adjacent unit is to add some dwelling coverage as well. You can also add special causes of loss instead of named (fire, wind, hail, theft, etc.) so that you are covered regardless of what caused the loss unless it's specifically excluded from the policy (like earthquake).


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PostPosted: Sun May 22, 2011 12:51 pm   Post subject: who pays for condo water damage to my unit caused by unit ow  

both unit owner above me in condo caused much more than 5000 of water damage to my unit 2 days ago.We both have Allstate insurance and my Allstate agent says I will have to pay the $250 deductible and then my agency will file a liability to the above owner above who also had damage but to a lesser degree than I have.I (tubing for his ice maker was installed by him in faulty way it went halfway around his kitchen), so I have much damage to kitchen, dinning room and living room-floors, walls, and maybe cabinets. Our association mgr had trouble getting access to above condo by owner so the damage continued until he could get access to that unit. My condo is a wreck...moving furniture ourselves mostly and flooring torn up to dry condo, etc in all room.. I'm covered for $5000 and so is he, I think.



I'm having trouble getting an Allstate Adjuster appointment to come to my condo to access the damage. What can I do about that also?


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PostPosted: Wed Jun 15, 2011 8:31 pm   Post subject: CONDO INSURANCE  

HOW MUCH INSURANCE DO I NEED ON PERSONAL PROPERTY FOR A 2 BEDROOM CONDO?


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PostPosted: Wed Jun 15, 2011 10:15 pm   Post subject:   

How much personal property do you have? That's how much coverage you need.



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