Quote:
Originally Posted by dubc80
|
I am not an insurance adjuster or anything of the sort, but I recall the following when I bought condo insurance a while ago:
I bought $1MM in general liability-type insurance, which the insurance agent told me was for "situations like if you accidentally burn down the building, the other owners and the condo board will sue you" - aka if I am at fault for damage to common property / other units, I need some liability insurance.
That concern prompted me to purchase several million dollars in a general umbrella policy, so that it would also act as additional liability coverage on my cars as well (ie if I accidentally killed someone while driving, $1MM in liability might not cover the total settlement - Plus I'd want that person's family to get as much as they could). It also added to my $1MM in liability coverage on the condo.
So, my point is this: If they've determined it was a particular person who caused the fire, can't all the other owners and the condo board sue him and his insurance for some restitution? I realize he likely has no insurance or only has $1MM in liab at best, but that's better than nothing?
Plus, I assume the Condo board's general insurance will cover the rebuilding / payout for the units, so I would hope that the smoker's $1MM liability policy would cover owners loses that the Condo board policy doesn't?
But I don't know the nitty-gritty of how this sh*t works, so I am just hoping that there's some more money available from this twits insurance.