Naples Condominium and HOA Claims Adjuster

Naples has become a highly desirable area in Florida. Condominiums make it easier to take a piece of the Sunshine State, usually at a more affordable price and with additional amenities that a single-family home typically does not offer.

Pools, tennis and basketball courts, oceanfront views, and proximity to shops and popular restaurants are just a few perks accessible to condo unit owners. Residents of the building fund these local amenities through what is known as a Homeowner’s Association, or HOA, to budget and manage the general needs of the property, including any insurance premiums for protection in the event of a disastrous event.

Although insurance premiums are purchased to protect the building and its common areas, at the time of a hurricane or the forces of mother nature, insurance companies are slow to pay the total that makes residents whole. For many, condo and HOA insurance claims become a real nightmare when insurers are reluctant to pay or completely dismiss liability.

If you are a condominium owner or an HOA looking for help navigating the claims process with your insurer, call us today. Pinnacle Claims Services is an expert service that is here to help.Our team has decades of experience handling similar cases, and we understand and apply the changes to the law as they benefit you. If you are ready to get started, give us a call today at 954-466-2954 or contact us online to schedule your policy and claims review with an experienced public adjuster in Naples.

Why Work With Naples Condo and HOA Claims Adjuster Services

Florida Condominium and HOA state laws have changed over the years, creating misinterpretations, undetected updates, and changes to who is responsible for what. Keeping up with these changes is challenging in itself, but when you are filing a claim against your insurance for damages to your property, it is best to know who is supposed to pay for what repairs.

As one of the most challenging claims to file, unit owners battle changing state laws, condo bylaws, and multiple legal teams. Disputes between claimants and insurance companies surrounding repairs for a condo after an event are seen more and more often because of:

• Local and state laws
• Multiple insurance companies
• Other parties (HOA, unit owners, contractors, etc.)

As a unit owner or HOA representing a condominium, filing a claim can result in significant pushback from your insurance because of the miscommunication and confusion between all parties involved.

Working with a team with many years of experience handling similar cases and consistently keeping up-to-date with laws means your case develops with proper support. Our team anticipates insurance companies’ questions and has answers ready to solidify the true amount your claim should be worth.

The team at Pinnacle Claims Services works endlessly to review documents, including condo bylaws, to see who is responsible for the damages sustained to the property.

Condominium and HOA Claims Adjusters Know What Condo Policies Cover

Condo bylaws may delegate certain responsibilities to unit owners that the HOA oversees in other properties. Condo bylaws are typically unique to each property, so it is common to see changes from one policyholder to the next.

As a unit owner, it is important to read your association’s bylaws to understand the responsibilities of determining the insurance policy needed.

Condominium policies differ per location by Condo Bylaws. Coverage is divided into a Master Policy, chosen and paid for through the HOA, and an HO-6 policy, paid for by the unit owner, with each policy covering personal injury and liability for their individual units.

Master Policy

The Master Policy for a condominium is paid for through the HOA. A board of directors creates a budget and holds an annual meeting that approves the by-unit monthly dues supporting property operations and expenses, including the master policy.

Florida law requires HOAs to obtain insurance coverage to protect all buildings and common areas, including property exteriors, outer walls, windows, roofs, gutters, and critical infrastructure like plumbing and elevators. It also protects directors and board members from liability, discrimination, and a commercial umbrella policy.

A Master Policy also covers:

• Personal injury
• General liability

A master policy protects the property’s common areas, like pools, gyms, clubhouses, and more. It also protects other common areas, like hallways and stairwells, and components shared in the building structure, like walls, roofs, and plumbing.

Types of Master Policies

These additional components to the Master Policy help cover accidents that involve injuries (like if there was a gym) or slips and falls. However, this policy does not protect individual unit owners if a general liability or personal injury claim occurs inside their unit.

There are some exceptions to this rule, as master policy coverage options are available for HOAs to choose from:

• Bare walls in — This kind of coverage includes the physical walls inward, including drywall, studs, steel framing, plumbing, and more. It does not cover flooring, cabinets, or other fixtures that are inside the unit.
• Single entity — Similar to bare walls, this kind includes some fixtures in the policy. Fixtures such as counters, cabinets, closets, trim, sinks, and some built-in appliances are covered in a claim. However, it is important to note that it will replace the items as they were. So, the amount to be paid is contingent on the value of the appliances, sinks, cabinetry, and other fixtures present before the event happens.
• All-in — The all-in master policy covers practically everything inside its units, including alterations and upgrades. What is excluded is personal property belonging to the unit owners. In many cases, additional insurance is unnecessary to protect property owners unless they wish to cover their personal property, like furniture, clothes, and decorations.

Special Assessments

It is never good news to receive correspondence from your HOA that you must pay a special assessment fee to your association. However, special assessments are there for a reason.

Typically, HOA directors can predict expenses as they relate to repairs and management needs. That said, in the event of damage that calls for a payment of a larger deductible than budgeted for, the association may request that unit owners step in to pay the difference.

Special assessments can be applied in cases of insurance when:

• All coverage for repairs has been exhausted in the master policy
• All coverage for liability has been exhausted in the master policy
• There is a high deductible per unit, sometimes more than $30,000, that causes request contributions by all unit owners

It is important that HOA directors and management consistently maintain condominiums. If the HOA cannot properly maintain or repair the property over time, it can lead to significant damage during an event like a hurricane.

If it is identified that the property was not repaired or maintained as it was supposed to before the event, an insurance master policy may not step in to pay for needed repairs.

Condo and HOA Claims Adjuster Services Understand HO-6 Insurance Policies

Unless your condominium has an all-in insurance master policy, it is best to purchase individual insurance to protect your unit’s finishes and personal property. In addition, purchasing an HO-6 policy will protect you from damage caused by other events like:

• Accidental overflow or discharge of water or steam
• Aircraft collision
• Damage from faulty wiring or electrical incidents
• Explosion, fire, and smoke
• Flooding from frozen pipes
• Lightning strikes
• Riot or civil commotion, vandalism, and theft
• Vehicle collision with your home
• Weight of snow, ice, sleet, or falling objects
• Windstorm or hail

Depending on the type of master policy your HOA purchased, the kind of coverage you will need to protect your unit and your personal property will depend on the type of master policy you need.  Although condo insurance is generally not required unless you have a mortgage, it can prove helpful whenever there is a hurricane or other natural disaster, and the master policy does not cover most of the interior or your personal property.

Exclusions to HO-6 Policies

HO-6 policies cover a lot that does not fall under the general master policy, but some exclusions apply. For example, flooding is not covered under an HO-6 policy.

Unit owners must check their local floodplain map to see if they are in a flood zone. If they are in a flood zone, they may be required to purchase an additional insurance policy to cover flooding if they have an active mortgage.

Condominium owners should be aware of what is not covered by their HO-6 policy. Some other exclusions are:

• Earthquake damage
• Flooding
• Outdated systems or equipment that are not up to code
• Leaks and sewer backup damage

If you are concerned about these other events happening, you may wish to purchase additional optional insurance to minimize your risk. In some cases, like flooding, condominium owners with an active mortgage must budget for an additional insurance policy expense.

Pinnacle Claim Services — Your Naples Condominium and HOA Insurance Claims Adjuster

Facing the aftermath of a disaster is difficult to swallow, let alone knowing how to move forward with filing a claim. Filing a condominium or HOA claim comes with its own challenges, as filing a claim can be more difficult than dealing with insurance for a single-family home.

Let the commercial claims team at Pinnacle Claims Services help you resolve your condo and HOA insurance claim.

Condominiums and HOAs claims come with unique complexities, and multiple parties are typically involved, including insurance providers, lawyers, and more. When you work with a team that has dealt with similar cases before, you can settle your claim for what your case is truly worth.Call us today to speak to a member of our team. You can reach us at 954-466-2954 or contact us online to schedule your policy review, damages review, and claims review today.