N.N. from Hartford County, Connecticut writes: Dear Mister Condo, Our condo association has a master insurance policy that has a $5,000 deductible. If a unit incurs damage up to $5,000, the association, out of their operating budget, would cover the cost. They are now looking to each individual homeowner to file a claim with their…
Search Results for: insurance
Insurance Money for Destroyed Condo that Isn’t Rebuilt
J.P. from Fairfield County, Connecticut writes: Dear Mister Condo, If condo makes decision not to rebuild, after major disaster, how is the money collected from insurance distributed? Mister Condo replies: J.P., it is highly unusual that an association would not rebuild although not unheard of. If your association has experienced this type of disaster, I have…
Leftover Money from Condo Hurricane Insurance Payout
B.B. from Collier County, Florida writes: Dear Mister Condo, My condo association received funds from an insurance claim filed regarding hurricane damage. Included in the claim were windows, a roof, and various other items. If the association wants to use some of the funds received in the settlement to purchase new windows for all owners…
Homeowner’s Insurance May Cover Cost of Forced Move Out During Association Repairs
M.M. from New London County, Connecticut writes: Dear Mister Condo, I’m asking this question on behalf of my coworker who will be forced to leave her condo for three months while they repair the foundation. Who is responsible for the costs associated; rent storage and moving fees? She has an 84-year-old father living with her…