Looking for opinions from condo owners and property managers on this.
I own a condo that is currently tenanted. Several months ago, there was a blockage of a pipe that caused water damage to the floors in my unit. The condo board has agreed that it was the fault of a common drainline and is willing to have the floors repaired at their cost.
The problem is, the unit is tenanted and they will only cover the cost of repairing the floor (labour and materials) but will not cover any costs associated with my tenants such as:
- removal and storage of their furniture (can't fix floors until unit is emptied)
- alternate accommodations for the tenants (they can't be in the unit for ~1 week while the work is going on)
If this were my house and my insurance claim, my insurer would definitely put me up in a hotel and pay for meals in addition to paying for the repairs.
The condo board is choosing to self-insure as the claim is less than their deductible.
Am I getting shorted because they are choosing to self insure or are they correct in saying they aren't obligated to cover anything beyond the repairs? In my mind, these other costs only exist because of the need for the repairs so they should be covered.
Thoughts?