As a property management owner, it is essential to understand the process for handling insurance claims, especially when a renter is involved, and the responsible party for covering a water leak claim is uncertain. Born Property Management has a protocol for handling such claims, which includes gathering all necessary information and evidence to support the owner.
When a water leak occurs in a rental property, and the cause is determined to be the responsibility of a neighbor or the community association's HOA insurance, the first step is for the renter to contact the property management company. We encourage the tenant to contact their insurance company to understand their renters' insurance policy coverage.
Our property managers can assist in identifying the parties who may be liable for the damages and provide the renter with the necessary information to file a claim, such as contact details for the insurance company, policy number, and any claim number that may have been opened.
Next, the renter should contact the neighbor or the community association's HOA insurance and provide them with the necessary information and documentation to support their claim, including the leak's cause, the damage's extent, and any related expenses. The HOA insurance will investigate the claim and determine if they are liable for the damages.
It is essential to understand the terms of the lease agreement and any applicable state laws and regulations and to have a clear understanding of the property owner's insurance policy and the terms of coverage. Born Property Management can help guide the owner by referring them to their insurance professional to understand their policy and get advice on requests for credits and proof of loss for any claim. An insurance professional can provide valuable guidance on the claims process and help the owner understand their coverage, including what is covered
