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August 20, 2008 at 10:01 AM #259303August 20, 2008 at 10:26 AM #259236
PCinSD
Guest[quote=urbanrealtor]Out of curiosity, is this the place on west Penn?
[/quote]Nope. I believe it’s West Lewis. Another interesting thing she told me yesterday: The HOA submitted the first flood to their insurance to cover the claims. This was a flood where a toilet tank broke and water flowed out of it for several days apparently. The owners of that unit only stay there on the weekends and didn’t know it was flooding. Next to their unit was an empty unit. That owner died. Next to that unit is my friend. She woke up in the morning to soaked carpet. The water had flowed through all 3 units. Fortunately, my friend had her own insurance which covered some of her damage. However, she just found out that the HOA’s insurance carrier paid the HOA for the damage to her unit. The HOA never cut her a check, never even told her they had submitted her claim to the insurance company. They told her they wouldn’t cover her claim. I understand she shouldn’t receive a windfall, but that’s between her and the insurance companies. If her insurance company wants to seek reimbursement if she receives payment from another source they may have that right, contractually. Or the respective insurance carriers will engage in subrogation. However, it seems like insurance fraud for the HOA to submit a claim to their carrier, receive the funds, and keep quiet about it.
More importantly, why would the HOA even submit this claim to their carrier? This was a broken toilet in someone’s unit. That owner did not have his own insurance but the HOA’s insurance covered his loss. Why? I would think that should be the responsibility of the owner.
August 20, 2008 at 10:26 AM #259248Guest[quote=urbanrealtor]Out of curiosity, is this the place on west Penn?
[/quote]Nope. I believe it’s West Lewis. Another interesting thing she told me yesterday: The HOA submitted the first flood to their insurance to cover the claims. This was a flood where a toilet tank broke and water flowed out of it for several days apparently. The owners of that unit only stay there on the weekends and didn’t know it was flooding. Next to their unit was an empty unit. That owner died. Next to that unit is my friend. She woke up in the morning to soaked carpet. The water had flowed through all 3 units. Fortunately, my friend had her own insurance which covered some of her damage. However, she just found out that the HOA’s insurance carrier paid the HOA for the damage to her unit. The HOA never cut her a check, never even told her they had submitted her claim to the insurance company. They told her they wouldn’t cover her claim. I understand she shouldn’t receive a windfall, but that’s between her and the insurance companies. If her insurance company wants to seek reimbursement if she receives payment from another source they may have that right, contractually. Or the respective insurance carriers will engage in subrogation. However, it seems like insurance fraud for the HOA to submit a claim to their carrier, receive the funds, and keep quiet about it.
More importantly, why would the HOA even submit this claim to their carrier? This was a broken toilet in someone’s unit. That owner did not have his own insurance but the HOA’s insurance covered his loss. Why? I would think that should be the responsibility of the owner.
August 20, 2008 at 10:26 AM #259045Guest[quote=urbanrealtor]Out of curiosity, is this the place on west Penn?
[/quote]Nope. I believe it’s West Lewis. Another interesting thing she told me yesterday: The HOA submitted the first flood to their insurance to cover the claims. This was a flood where a toilet tank broke and water flowed out of it for several days apparently. The owners of that unit only stay there on the weekends and didn’t know it was flooding. Next to their unit was an empty unit. That owner died. Next to that unit is my friend. She woke up in the morning to soaked carpet. The water had flowed through all 3 units. Fortunately, my friend had her own insurance which covered some of her damage. However, she just found out that the HOA’s insurance carrier paid the HOA for the damage to her unit. The HOA never cut her a check, never even told her they had submitted her claim to the insurance company. They told her they wouldn’t cover her claim. I understand she shouldn’t receive a windfall, but that’s between her and the insurance companies. If her insurance company wants to seek reimbursement if she receives payment from another source they may have that right, contractually. Or the respective insurance carriers will engage in subrogation. However, it seems like insurance fraud for the HOA to submit a claim to their carrier, receive the funds, and keep quiet about it.
More importantly, why would the HOA even submit this claim to their carrier? This was a broken toilet in someone’s unit. That owner did not have his own insurance but the HOA’s insurance covered his loss. Why? I would think that should be the responsibility of the owner.
August 20, 2008 at 10:26 AM #259297Guest[quote=urbanrealtor]Out of curiosity, is this the place on west Penn?
[/quote]Nope. I believe it’s West Lewis. Another interesting thing she told me yesterday: The HOA submitted the first flood to their insurance to cover the claims. This was a flood where a toilet tank broke and water flowed out of it for several days apparently. The owners of that unit only stay there on the weekends and didn’t know it was flooding. Next to their unit was an empty unit. That owner died. Next to that unit is my friend. She woke up in the morning to soaked carpet. The water had flowed through all 3 units. Fortunately, my friend had her own insurance which covered some of her damage. However, she just found out that the HOA’s insurance carrier paid the HOA for the damage to her unit. The HOA never cut her a check, never even told her they had submitted her claim to the insurance company. They told her they wouldn’t cover her claim. I understand she shouldn’t receive a windfall, but that’s between her and the insurance companies. If her insurance company wants to seek reimbursement if she receives payment from another source they may have that right, contractually. Or the respective insurance carriers will engage in subrogation. However, it seems like insurance fraud for the HOA to submit a claim to their carrier, receive the funds, and keep quiet about it.
More importantly, why would the HOA even submit this claim to their carrier? This was a broken toilet in someone’s unit. That owner did not have his own insurance but the HOA’s insurance covered his loss. Why? I would think that should be the responsibility of the owner.
August 20, 2008 at 10:26 AM #259339Guest[quote=urbanrealtor]Out of curiosity, is this the place on west Penn?
[/quote]Nope. I believe it’s West Lewis. Another interesting thing she told me yesterday: The HOA submitted the first flood to their insurance to cover the claims. This was a flood where a toilet tank broke and water flowed out of it for several days apparently. The owners of that unit only stay there on the weekends and didn’t know it was flooding. Next to their unit was an empty unit. That owner died. Next to that unit is my friend. She woke up in the morning to soaked carpet. The water had flowed through all 3 units. Fortunately, my friend had her own insurance which covered some of her damage. However, she just found out that the HOA’s insurance carrier paid the HOA for the damage to her unit. The HOA never cut her a check, never even told her they had submitted her claim to the insurance company. They told her they wouldn’t cover her claim. I understand she shouldn’t receive a windfall, but that’s between her and the insurance companies. If her insurance company wants to seek reimbursement if she receives payment from another source they may have that right, contractually. Or the respective insurance carriers will engage in subrogation. However, it seems like insurance fraud for the HOA to submit a claim to their carrier, receive the funds, and keep quiet about it.
More importantly, why would the HOA even submit this claim to their carrier? This was a broken toilet in someone’s unit. That owner did not have his own insurance but the HOA’s insurance covered his loss. Why? I would think that should be the responsibility of the owner.
June 10, 2009 at 12:02 PM #413789Anonymous
GuestThough this is an old post, it is an important one. Unfortunately, we see condo nightmares all the time. Now that there are so many apartment conversions, insurance companies are increasing premiums for condo insurance. If you need a trusted advisor to help you with condo insurance, please log on to http://www.fast2insure.com. We have been able to help many clients, and we may be able to assist you too.
June 10, 2009 at 12:02 PM #413719GuestThough this is an old post, it is an important one. Unfortunately, we see condo nightmares all the time. Now that there are so many apartment conversions, insurance companies are increasing premiums for condo insurance. If you need a trusted advisor to help you with condo insurance, please log on to http://www.fast2insure.com. We have been able to help many clients, and we may be able to assist you too.
June 10, 2009 at 12:02 PM #413471GuestThough this is an old post, it is an important one. Unfortunately, we see condo nightmares all the time. Now that there are so many apartment conversions, insurance companies are increasing premiums for condo insurance. If you need a trusted advisor to help you with condo insurance, please log on to http://www.fast2insure.com. We have been able to help many clients, and we may be able to assist you too.
June 10, 2009 at 12:02 PM #413940GuestThough this is an old post, it is an important one. Unfortunately, we see condo nightmares all the time. Now that there are so many apartment conversions, insurance companies are increasing premiums for condo insurance. If you need a trusted advisor to help you with condo insurance, please log on to http://www.fast2insure.com. We have been able to help many clients, and we may be able to assist you too.
June 10, 2009 at 12:02 PM #413239GuestThough this is an old post, it is an important one. Unfortunately, we see condo nightmares all the time. Now that there are so many apartment conversions, insurance companies are increasing premiums for condo insurance. If you need a trusted advisor to help you with condo insurance, please log on to http://www.fast2insure.com. We have been able to help many clients, and we may be able to assist you too.
June 10, 2009 at 1:52 PM #413954sunny88
ParticipantDoes anybody have an idea what the best way to check the financial positon of an HOA is? Are there any public records which can be checked?
June 10, 2009 at 1:52 PM #413485ParticipantDoes anybody have an idea what the best way to check the financial positon of an HOA is? Are there any public records which can be checked?
June 10, 2009 at 1:52 PM #413804ParticipantDoes anybody have an idea what the best way to check the financial positon of an HOA is? Are there any public records which can be checked?
June 10, 2009 at 1:52 PM #413254ParticipantDoes anybody have an idea what the best way to check the financial positon of an HOA is? Are there any public records which can be checked?
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