A condominium or a homeowners’ association (HOA) maintains the common areas and common elements of a development or building. In support of that duty, the association must maintain appropriate and adequate insurance.
Founded in 1988, Saavedra Goodwin guides HOAs in procuring the insurance it needs to protect the joint interests of its property owners. We review insurance policies and advise the board on filling gaps in coverage. Our West Palm Beach, Ft. Lauderdale and Miami property damage lawyers also represent the association when it submits an insurance claim and defends it against claims made by others.
Generally, the condominium association is responsible for damage to common structures and areas, whereas the individual unit owner is responsible for damage to everything from the wallpaper inward. In most cases, the unit owner’s insurance covers the costs of repairs for damaged property such as:
The condominium association’s insurer generally pays for common areas, such as:
The insurance companies often disagree about who is financially responsible for the damages, each claiming the other should pay. This is especially true when the source of damage to an individual unit occurred on common property, or vice versa.
The needs of each association vary, depending on value of the property, size of the development and amenities available for property owners. For example, a facility with a pool, golf course, beach cabana, gym and playground would require more (and different) insurance than a single structure condominium building with basic amenities. Our South Florida attorneys determine what your condominium and homeowners’ association needs. Types of coverage include:
Our West Palm Beach, Ft. Lauderdale and Miami property damage lawyers represent condominium and homeowners’ associations in insurance matters. We can help you obtain the insurance you need and recover your rightful compensation in damage claims. We can also help your settlement insurance disputes. Call Saavedra Goodwin at 954.767.6333 or contact our law firm online to discuss your insurance and property claim issues.