When a homeowner purchases homeowners’ insurance, he expects that the coverage will pay for any necessary repairs if there is a loss event. In South Florida, there are numerous ways that a property can sustain serious damage, including hurricanes. These loss events can result is extensive damage to the condominium unit, personal property, and common areas in the property. However, many condominium owners fail to realize that there are many complications with a policy for this type of residence and that there may be serious coverage gaps that can lead to large sections of the property not being repaired. Due to the use of common areas, a condominium owner may find himself living in a building where there are many necessary repairs that are not covered by the residents’ policies.
As a homeowner, it is important that the insurance coverage provides the right type of protection for damage that might happen during a loss event. After a significant loss event, insurance companies may attempt to minimize the payout and condominium owners may suffer. The tenacious and skilled Miami homeowners’ insurance attorneys at Greenberg Stone and Urbano have more than 130 years of collective experience in working with homeowners to get them the coverage that they deserve.
When a condominium association does not have the appropriate coverage for common areas, there may not be coverage for repairs. Some of the common areas that exist in many condominium properties include:
• Swimming pools;
• Workout areas;
• Community rooms;
• Lobbies and walkways;
• Park areas and grounds;
• Parking areas; and
• Other shared use space.
When a person resides in a condominium, it is important to have a policy that covers those areas that are not covered by the master policy of the condominium association. Therefore, the individual unit owner must take affirmative steps to ascertain the type of coverage that the association has obtained in order to prevent areas of disrepair. This includes reviewing the association’s by-laws in order to learn what types of damage is covered. Things like routine maintenance also are not covered by most policies, so the association should have a fund that covers the general repairs. This fund also might be used to pay for any gaps in the insurance coverage.
There are many times when a condominium owner gets bad advice from an insurance agent and does not have the appropriate coverage for the property in which he lives. When deciding on an insurance policy, it often is critical to have the advice of experienced homeowners’ insurance attorneys. After there has been a loss event, the insurance provider may attempt to limit the amount of payment that is made to the condominium owner. However, there are things that can be done to ensure that a property owner gets the coverage that he deserves. There is a contract in place based on the regular premium payments that were made routinely by the homeowner. The insurance company has a duty to fulfill its obligations.
Greenberg Stone and Urbano Gets Condominium Owners the Coverage They Need
For a person living in South Florida, there are many different considerations when looking at homeowners’ insurance coverage, including taking into account additional coverage for common areas. If an insurance provider does not make the payments that are due and owing under a policy, the South Florida homeowners’ insurance law firm of Greenberg Stone and Urbano can help get you the payment that will cover necessary repairs. Our client-centric focus has been rewarded with an AV rating from Martindale Hubbell, which is the highest peer rating that a firm can receive. Our firm also was voted one of South Florida’s top-rated law firms by the Miami Herald. Call us at (888) 499-9700 or (305) 595-2400 or visit our website to schedule an initial appointment so that we start fighting for you.