This is a great question that can have a disappointing answer for a lot of condominium associations and unit owners—but that only makes it more important that you ask before you need to file a claim. While it can be simple for homeowners to find out how their insurance against flood losses works, condominiums can be insured against loss by policies purchased by the condominium association, individual unit owners, and other potential parties. So, when dealing with any kind of flood claim for a condo, your first questions should really be about which policies cover the types of loss you sustained in the flood.
However, even after you understand the extent of your own responsibility for filing a claim with your insurer, there can be additional problems with getting payment for all the types of water damage you sustained.
Indirect Water Damage Is Often Not Covered by Condominium Flood Insurance Policies
It’s important to realize that not all “flood” damage is the same for the purposes of condominium insurance claims. Many policyholders each year are dismayed to find out that their policies—even including the master policies held by the condominium association—only cover direct flood damages. Unfortunately, this may exclude accompanying water damage due to:
- Water and sewer backup
- Leaks caused by flooding or a preceding storm
- Other “indirect” damages from a major flooding event
Understanding the fine details of your insurance coverage is the key to successfully resolving condominium flood claims. For more information about your rights or help with a difficult claim, reach out to our experienced policyholder attorneys at 888-614-7730.