In a condominium community, a minor leak can quickly spread beyond one unit, leading to damaged property, frustrated residents, costly repairs, and complicated insurance questions.
The good news is that many water damage incidents can be prevented with proactive maintenance, clear communication, and a thoughtful plan for when problems arise. Here is what you need to know about water damage and insurance claims.
- Know what the association’s master policy covers versus what unit owners need to cover under their HO-6 policies.
- Keep detailed records of any incidents, including photos, repair estimates, invoices, and communications with contractors, residents, and insurers. Good documentation makes claims smoother.
- Analyze whether filing a claim is the best option. Every reported loss can affect your association’s insurability and future premiums. Frequent or significant claims may make it harder to renew your policy. Sometimes paying for minor repairs out of pocket can protect you from higher costs down the road.
- Prevent a claim in the first place with these actions:
- Adopt a policy resolution mandating steel-braided water supply hoses in all units
- Install water leak detection alarms
- Conduct annual HVAC drain pan and condensation line cleaning
If you’d like help reviewing your current water damage prevention plan or want guidance on when to file a claim, we’re here to help. Let’s work together to keep your property protected and your insurance program in good standing.
