by Guest » Thu Feb 14, 2013 07:53 pm
Hi,
The water heater burst upstairs and leaked into our condo unit. We have contacted our condo insurance company and they sent someone out to look at the damage. We just redid the floor. It got the wall in two rooms. We have a $1000 deductible. Do we let the insurance companies handle it? Who pays the $1000 deductible? The owner of the unit upstairs apologized and replaced their hot water heater already. We have a fan going to try to soak up the extra moisture. We are in the state of Nevada. What can I do to protect myself and make sure I get a just settlement? We are just a few days into the process so it is too early to tell what will happen. I did take pictures of the damage. Not many personal belongings were affected. This happened rather quickly in the morning. Thank you for your assistance.
The water heater burst upstairs and leaked into our condo unit. We have contacted our condo insurance company and they sent someone out to look at the damage. We just redid the floor. It got the wall in two rooms. We have a $1000 deductible. Do we let the insurance companies handle it? Who pays the $1000 deductible? The owner of the unit upstairs apologized and replaced their hot water heater already. We have a fan going to try to soak up the extra moisture. We are in the state of Nevada. What can I do to protect myself and make sure I get a just settlement? We are just a few days into the process so it is too early to tell what will happen. I did take pictures of the damage. Not many personal belongings were affected. This happened rather quickly in the morning. Thank you for your assistance.
Posted: Sat Feb 16, 2013 04:10 pm Post Subject:
The specifics depend on your insurance company but that is generally a covered loss. With your condo policy you do not have coverage for the walls (drywall) or anything that is considered structural as that would be covered under the associations insurance policy. That being said, everything else should be covered including any personal property if you find any that's been affected.
The way the deductible works is that if they estimate the damage at 10,000 they will deduct the 1,000 and you should receive a check for 9,000.
Once you receive your initial payment if you feel you were underpaid either hire someone to represent you to get more money or get estimates from various contractors if their estimated are higher than the insurance companies estimates many times they will issue a supplemental payment for the difference (or close to it). Good Luck!
Posted: Sat Feb 16, 2013 04:11 pm Post Subject:
The specifics depend on your insurance company but that is generally a covered loss. With your condo policy you do not have coverage for the walls (drywall) or anything that is considered structural as that would be covered under the associations insurance policy. That being said, everything else should be covered including any personal property if you find any that's been affected.
The way the deductible works is that if they estimate the damage at 10,000 they will deduct the 1,000 and you should receive a check for 9,000.
Once you receive your initial payment if you feel you were underpaid either hire someone to represent you to get more money or get estimates from various contractors if their estimated are higher than the insurance companies estimates many times they will issue a supplemental payment for the difference (or close to it). Good Luck!
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