Owners of property in association-governed, common interest communities face a double whammy in terms of repairing and rebuilding. They face extensive clean up and loss of common property and association-managed infrastructure in addition to personal loss of their own homes and belongings.

To further complicate things, the claims management process for HOA and Condo insurance policies are often complex and challenging. An insured loss at a condominium almost always affects multiple units or common areas, complicating the claims process. The more extensive the damage, the more difficult it becomes to ensure that all insured losses are accounted for, substantiated and covered.

If you are on the board of an HOA or Condo association, you have a huge job ahead of you after a severe storm. Your neighbors are counting on you to get your community functioning normally again. Not sure where to being? Here’s five tips:

1. TAKE STEPS TO PREVENT FUTURE DAMAGE

To mitigate the extent of any damage, have your maintenance or engineering specialists assess the damage at your property as soon as it is safe to do so.

2. ONCE DAMAGE IS VERIFIED, REVIEW PERTINENT DOCUEMENTS

Be sure to review your governing documents and insurance policy. State laws and the community declaratory documents dictate the process that must be followed to contract for remediation and rebuilding, as well as the allocation of insurance proceeds or other short-term financing needed to fund these activities. To be safe, check with your association attorney and discuss the process with your community manager.

3. DOCUMENT EVERYTHING!

All too often, multiple policyholders, insurance companies, pressure from owners, and conflicting and unclear requirements can muddle the process and further complicate the claims process. Make sure you keep detailed records of when you speak to your insurance company, the claims adjuster, vendors, etc.

4. ASK FOR A SECOND OPINION

The insurance company’s adjuster is not there to protect you and your association’s claim. Your board needs to consult with your association counsel who will assist you in retaining your own adjuster and/or engineer or architect to fully evaluate and compile your claim. All of the foregoing professionals can help ensure that your insurance company maximizes rather than minimizes your anticipated recovery.

5. ENSURE YOU RECEIVE A FAIR SETTLEMENT

The insurance process can be stressful and time consuming. To complicate matters, 99% of claims are underpaid by insurance companies. If you have questions or are unsure as to whether you should accept the offer from your insurance company, contact C3 Group Public Adjusters today for a free claim review. Hiring C3 Group to assist with your claim helps level the playing field and ensure that your claim is paid fairly and the maximum settlement for your claim is paid.

When dealing with Condo or HOA insurance claims sometimes it’s best to seek professional help to avoid filing mistakes which could delay repairs. In addition, having a professional review the insurance policy can ensure that fair and accurate payment is made from the insurance company to cover the damages. Should you have questions about your insurance coverage or insurance settlement amount, or if you would like a free claim review we encourage you to give us a call at 833-232-5246.

Follow C3 Group on FacebookTwitter and LinkedIn for more tips and resources on dealing with damage from Hurricane Irma.