commercial property damage
When Fire or Storms Strike – We Advocate for Your Hospitality & Condo Property Claims.
Retain Us to Protect Your Investment When Disaster Strikes – Expert Claim Management for Hotels, Resorts, and Condos.
Hotel and motel losses caused by fire, floods, hurricanes, builders risk policies, and broken water pipes, to name a few, have all been handled by Recovery Insurance Adjusters. Given the intricate and often costly construction and finishing of high-end hotels, it is critical to conduct a full risk analysis on a regular basis, including an update on coverage limits for goods and building limitations.
One of the difficulties with this type of property is that if there is a loss, the entire facility may have to be shut down, even if some portions are still working. Building regulators, for example, may force the property to be entirely closed until all repairs are done in accordance with current building and health code requirements in the interest of public life, health, and safety.
This is especially true for older buildings that have lost their grandfather status in terms of building codes. If this occurs, the hotel may be required to comply with the new rule, which might be costly. Before the building can reopen, things like fire systems, sprinklers, and other systems may need to be installed. Property owners should consider insurance issues such as actual cash value, law and ordinance difficulties, and hefty hurricane deductibles that would arise in the aftermath of a loss.
Our experience suggests that emergency repairs should be approached with caution. Incorrectly performed permeated repairs may result in further damage and a higher repair cost later. Emergency service contracts require special attention because it is common for untrained or unethical contractors to overcharge or do a substandard job in an emergency scenario in order to make quick cash. Keep in mind that the insurance company will only cover your loss once. Make sure you complete everything correctly the first time.
The ever-changing laws that the insurance contract must comply with, as well as the communal living arrangement where unit owners live side-by-side and in some cases connected units with others living on top of each other, are issues that compound the problems beyond the actual loss and damages calculations.
When these communities are damaged, it appears that each owner has an opinion about the repairs, the cost, and, of course, they all want their unit to be repaired as quickly as possible. Following a major property loss, the owners are reminded or pointed to the governing documents, which normally lay out who will work on the process and how it should function in order to repair the insured property.
Condominium Associations may have different ownership rights, property insurance issues, and requirements than Homeowners Associations, depending on the state where they are located. In Florida, for example, a condo association is typically divided into the master association’s property and the unit owner’s property, with the law determining who is liable for the two properties’ insurance and repairs.
Unfortunately, there have been various rewrites of Florida statutes over the years that have sought to clarify who is responsible for insuring the master property and making repairs vs the unit owners. Given all of these developments, interpreting the statutes is not straightforward, and we frequently come into disagreements as insurance companies and their adjusters continue to apply their own interpretations in ways that benefit them over policyholders.
Recognized as an authority in the community association industry, Recovery Insurance Adjusters has the expertise and experience to help you achieve the most favorable outcome possible. Our team of public adjusters, led by Mr. Connelly, provides clients with only the highest level of professionalism and excellence – whether you’re dealing with a claim that stems from hurricane damage, water damage, theft, fire, mold, roof leak, or any other type of calamity, our singular goal is to ensure your interests are always protected.
Your Insurance Company has a Claim Adjuster, Shouldn’t You? Tell Us About Your Claim:
THIS IS A SOLICITATION FOR BUSINESS. IF YOU HAVE HAD A CLAIM FOR AN INSURED PROPERTY LOSS OR DAMAGAE AND YOU ARE SATISFIED WITH THE PAYMENT BY YOUR INSURER, YOU MAY DISGREGARD THIS ADVERTISEMENT.
THE CONSUMER IS RESPONSIBLE FOR PAYMENT OF ANY INSURANCE DEDUCTIBLE. IT IS INSURANCE FRAUD PUNISHABLE AS A FELONY OF THE THIRD DEGREE FOR A CONTRACTOR TO KNOWINGLY OR WILLFULLY, AND WITH INTENT TO INJURE, DEFRAUD, OR DECEIVE, PAY, WAIVE, OR REBATE ALL OR PART OF AN INSURANCE DEDUCTIBLE APPLICABLE TO PAYMENT TO THE CONTRACTOR FOR REPAIRS TO A PROPERTY COVERED BY A PROPERTY INSURANCE POLICY; AND IT IS INSURANCE FRAUD PUNISHABLE AS A FELONY OF THE THIRD DEGREE TO INTENTIONALLY FILE AN INSURANCE CLAIM CONTAINING ANY FALSE, INCOMPLETE, OR MISLEADING INFORMATION.