Insurance Dispute Lawyers Managing Property Claims for Condominium Owner Associations in Louisville
Reliable representation through the insurance dispute process in Kentucky
When the insurance company delays paying your claim, denies your claim, or behaves in a way that makes you wonder if they are going to uphold their contractual agreement with you, it can feel hopeless. At McWherter Scott Bobbitt, we are aware of how insurance companies often make it difficult for condominium associations to collect on their policies for covered claims. We offer aggressive representation in insurance disputes on behalf of policyholders in Louisville and throughout Kentucky.
What are some common types of condominium property insurance claims?
Depending on the nature of the incident, there may be damage to several units, damage to common areas, damage to the roof that might span individual units and common areas. At McWherter Scott Bobbitt, our insurance dispute attorneys handle all kinds of property damage claims in multi-dwelling structures, including those involving:
- Wind, rain and flood damage
- Fire, lightning strike, smoke damage
- Hail damage
- Roof damage from falling trees, hail storms, etc.
- Water damage from burst pipes, etc.
- Mold and mildew damage
Kentucky law for condominium insurance
The Kentucky statutes require condominium associations to have insurance. (KRS 381.9187) The law requires that the condo association have property insurance in an amount that is not less than 100% of the cash value of the property (after the deductible), and liability insurance in an amount determined by the board. The law requires that each unit owner is insured under the master policy with respect to liability arising out of his or her interest in the common elements or membership in the association. In cases where a unit owner has a home owner's insurance policy which would cover a risk, the association's insurance policy would provide primary insurance coverage.
What is involved in a Condominium Association claim?
There is often a lot of confusion when the time comes to file a property damage claim in a condominium. The Condominium Association, or Homeowners’ Association (HOA), insurance typically covers the common areas and building structure, including the roof, while the individual condo unit owner's insurance covers everything within the four walls of that unit (often referred to as a “walls in” policy). In the event of damage to the condominium property, there can be different theories about which policy would cover a loss. Kentucky law helps to dispel this confusion by asserting that the master condo policy will provide primary coverage.