A homeowners’ association, or HOA, is usually responsible for common spaces in residential communities. When something goes wrong with common or shared spaces, a homeowners’ association needs to make the insurance claim to get coverage for the damage.
Many insurance companies are treating Hurricane Sandy claims with skepticism, sometimes trying to shift responsibility, lowball claims or deny coverage for legitimate damage. This is an especially big problem for homeowners’ associations, and many residential communities are struggling to get storm losses covered even months after Hurricane Sandy occurred.
At Doyle LLP, our experienced Hurricane Sandy HOA damage attorneys know how to handle the complexities of claims made by homeowners’ associations and we are ready to stand up to the insurance companies to make sure all legitimate claims are paid in full
Problems with Hurricane Sandy HOA Damage Claims
In many shared residential environments, including condominium and townhouse complexes, as well as neighborhoods made up of single-family homes, the homeowners’ association has the responsibility of maintaining communal spaces. This typically includes the roof, exterior walls and common areas of the structure. The HOA will typically buy insurance for these shared spaces using dues collected from homeowners.
The insurance policies are meant to protect the association – and by extension, the residents – from damage. When a storm like Hurricane Sandy happens, the HOA can make a claim for losses and the insurance company is legally obligated to pay out so repair or rebuilding will be possible.
Insurance companies, however, may try a number of tactics to pay out as little as possible or even nothing at all. Insurance companies may:
● Try to shift blame to other insurers
● Undervalue the cost of repairs or the replacement cost of damaged common areas
● Deny legitimate claims
● Delay claims for an unreasonably long period of time
● Impose unnecessary burdens on HOAs making claims, including complex paperwork and documentation requirements
The goal of these behaviors is for the insurance company to avoid their obligation to cover claims in full. HOAs are often ill-equipped to deal with pressure and dishonest actions by insurance companies and may face challenges in securing payment for claims.
A Hurricane Sandy HOA Damage Lawyer Can Help
To remain fiscally solvent and to afford long-term sustainability for the community, it is critical for an HOA to get insurance claims covered quickly. In order to make sure insurance companies pay out fairly and in a timely manner, HOAs should consult with a Hurricane Sandy HOA damage lawyer.
At Doyle LLP, we understand the ins and outs of all hurricane damage claims, including those that involve homeowners’ associations. Our attorneys will make insurance companies pay what they owe, either through polite correspondence or through fierce litigation. When an insurance company fails to pay out claims to a homeowners’ association, the insurer can be held liable for bad faith. Doyle LLP has successfully litigated on behalf of HOAs throughout the United States in bad faith claims and will do so for your association.
Contact our Hurricane Sandy HOA damage attorneys at (888) 571-1001 today.