Parts of New York were devastated by the massive destruction caused by Hurricane Sandy. As communities struggle to rebuild, many homeowners’ associations (HOAs) are still experiencing problems many months after the storm: a struggle to make insurance companies pay for covered damages.
New York homeowners’ associations have a responsibility to protect shared and community spaces, and to rebuild when the shared property is damaged. HOAs purchase insurance coverage to ensure the financial risk of loss is transferred so money is available to make necessary repairs after a storm. When insurers fail to cover losses, a New York Hurricane Sandy HOA damage attorney at Doyle LLP should be consulted by HOA officials to take action and ensure that the insurer pays as required.
Insurance Companies and Storm Damage
With Hurricane Sandy estimated to have caused more than $65 billion in damages, insurance companies have had to process thousands of costly storm damage claims. In processing any insurance claim, insurers must comply with all terms of the insurance contract. This includes not just compliance with written provisions of insurance agreements but also compliance with implied covenants imposed by public policy considerations and state contract laws.
In New York and throughout the United States, every contract of insurance has an implied covenant of good faith and fair dealing. This implied contractual obligation mandates that insurers must treat insured clients fairly and must fulfill all obligations to insured clients. Since HOAs pay premiums for months or years in anticipation of a potential future disaster, the insurance company must pay as promised if that disaster occurs. An insurance company that fails in this obligation is said to be acting in bad faith and the HOA can take action against the insurer with the help of a New York Hurricane Sandy HOA damage lawyer.
Legal Help for New York HOAs after Hurricane Sandy
Many New York homeowners’ associations are involved in insurance disputes with insurers that have denied legitimate storm damage claims or that have significantly undervalued the cost of Hurricane Sandy claims. For HOAs, community residents are dependent upon the association to make necessary repairs, and strict code and safety requirements set detailed construction standards for the rebuild and repair process. HOAs must take steps to resolve insurance disputes in a manner that provides sufficient coverage for all losses.
A New York Hurricane Sandy HOA damage attorney will advocate for the HOA in order to facilitate timely and fair resolution of insurance disputes. An attorney can file a bad faith cause of action if necessary to obtain full coverage as well as payments for losses that may exceed policy limits. Should litigation be necessary, we are fully prepared to expose the insurer’s transgressions in a court of law.
Contact Us for a Free Consultation
The attorneys at Doyle LLP have helped clients nationwide secure coverage for wind damage, roof damage and other losses caused by storms. Our lawyers are experienced litigators who focus on representing homeowners’ associations and commercial property owners in high-stakes insurance disputes.
We believe every insurance company needs to be held responsible and required to comply with the terms of its contractual agreements and we are passionate advocates for the rights of insured clients to secure full compensation to repair or replace structures damaged by storms.
HOAs involved in disputes with insurers can schedule a free consultation with a member of the Doyle LLP legal team. Contact us at (888) 571-1001 to learn more.