5 Reasons Your Condo Insurance Claim May Be Denied
If you’re a condominium owner, it’s important to understand the potential pitfalls of filing an insurance claim. While you may think your policy will cover any damage or loss that occurs in your unit, there are a number of reasons why your claim may be denied. Here are five common reasons why your condo insurance claim may be denied, and what you can do to avoid them.
#1 Lack of proper documentation: In order to file a successful claim, you’ll need to provide detailed documentation of the damage or loss, including photographs, receipts, and a police report if necessary. Without this documentation, your claim may be denied.
#2 Exclusions in your policy: Many insurance policies contain exclusions that limit the types of damage or loss that are covered. For example, certain types of flooding or water damage may not be covered under your policy. Be sure to review your policy carefully and understand any exclusions that apply.
#3 Failure to maintain the unit: If the damage or loss is a result of your failure to properly maintain your unit, your claim may be denied. This can include failure to address a known leak or failure to keep the unit in a reasonable state of repair.
#4 Damage caused by others: If the damage or loss is a result of actions by someone else, such as a tenant or guest, your claim may be denied. This is because your insurance policy typically only covers damage or loss that is caused by you or your actions.
#5 Failure to file a timely claim: Most insurance policies have a time limit for filing claims. If you fail to file your claim within this time frame, your claim may be denied. Be sure to file your claim as soon as possible after the damage or loss occurs.
By understanding these common reasons why condo insurance claims may be denied, you can take steps to avoid them and increase the chances of your claim being approved. However, if you do encounter any issues with your claim, a specialized insurance claims law firm like MGW Law can help you navigate the process and ensure that you receive the compensation you deserve. At MGW Law, we help Wisconsin residents and businesses get the fair insurance claim payments that they deserve – if you’re facing a denied or delayed insurance claim we can help.