By Philip Maltaghati – President of United Public Adjuster & Appraisers Inc.
Winter into Spring is as good a time as any to discuss liability coverage for the roof structure of your condo or coop. That is because homeowners, tenants, and even property owners and property managers may be in the dark as to what their policy covers. It is just common sense to know more about your property insurance coverage before you have to file a roof damage insurance claim. In this article, United Public Adjusters, highly experienced as public adjusters for roof claims, will provide insight into your coverage, and how to protect yourself, your personal property, and your home in the event of storm damage to your building’s roof.
Let’s cover the types of insurance you are likely to have as either a condo or cooperative owner. For coops, your management group’s master building insurance policy will cover damages/loss to all common areas and what is owned by the cooperative. That means the structure of your apartment, i.e. the roof over your head, is covered by this policy and additionally, walls, doors, windows, and plumbing pipes (but not fixtures). Causes of roof damages can be widespread, and range from natural causes such as lightning, trees, storms, wind, rain, snow, and ice. Additionally, the master policy will cover roof damage from sources such as explosions, fire, smoke, vandalism, or roof collapse due to the weight of snow and ice.
You might think this type of policy will cover every contingency, but you’d be wrong. Sometimes roof damage can be insidious and cause damage to your unit months after the roof structure has been repaired. In the event of roof damage, however, your master building insurance coverage will not extend to cover potential damage to your unit and possessions. A Coop Home Contents insurance policy will. Everything that is not permanently attached to your walls may be covered under this policy. That includes clothing, technology, sporting goods, jewelry, antiques, art, furniture, rugs, kitchen appliances, even bicycles. To learn more about the ins and outs of your coverage, consult a public adjuster. We are impartial, and can point out gaps in coverage, such as sub-limits, and other policy limits, that in the event of a roof damage insurance claim could prevent you from obtaining full replacement value for your lost property.
For condo owners, in addition to the Condo Association’s Master Policy, most condo boards require that you obtain additional homeowners insurance. Like the coop master building policy, the Condo Association policy will cover roof damage from a broad scope of sources. However, the additional required policy, known as HO-6 insurance, is specifically designed to begin where the Master policy leaves off. This type of policy covers damage to personal belongings, your improvements and betterments plus additional living expenses.
What if you are a tenant? Consider an HO-4 policy, designed just for renters’ peace of mind from all types of losses, including those incurred from gaps in their Master Associations policy for a roof damage insurance claim. Residual damage can appear months after a damaged roof has been repaired, so it is wise to explore your options sooner than later. For example, you might want to consider a policy that includes temporary housing in the event that roof damage eventually forces your family from your home while repairs are being made. A public adjuster can assist with this evaluation, so consider contacting a public adjuster for roof claim information.
You should be aware that roof damage can create future property damage claims, as well as the importance of being prepared for such an emergency. We recommend that you give our team a call at United Property Adjusters and Appraisers. We’re seasoned professionals and can assist you now, to ensure that you are sufficiently protected, as well as should you ever have to submit a roof damage insurance claim. Request or quote or give us a call now at 800-718-5677.