Fires come faster than you can process what’s happening, and the resulting damage isn’t any easier to deal with. When managing an apartment or condominium in Tampa, knowing who pays for what is imperative for post-accident recovery. Altieri Insurance Consultants Tampa is the partner property owners rely on for fire damage claim services from a reputable team of public adjusters dedicated to helping you get what you are owed.

Apartment Insurance Fire Claims

The reason why apartment insurance is such a gray area is that there are two parties involved when fire damage occurs: the landlord and the tenant. Just as the apartment manager is required to have an insurance policy in place for the complex, those renting the unit are expected to have their own insurance policies in place.

Landlords are expected to have apartment insurance for fire damage to the building’s structure and everything attached to it. These policies are responsible for covering the entire structure, including flooring, wallcoverings, and cabinetry, inside all units plus all common areas. This policy should also include Loss of Rents or Income coverage to reimburse monies expected from tenants on a monthly basis to run the complex.

Tenants are advised to hold apartment renter insurance policies that cover the cost of repair or replacement for their personal items. This includes all items owned by the tenant that are not attached to the building, such as furniture, clothing, or electronics. This policy would also provide Additional Living Expense coverage to reimburse costs associated with increased costs of living incurred as a result of the fire.

In Tampa, both apartment owners and renters benefit from property insurance to protect their assets after a severe case of fire, smoke or water damage. Without insurance, each side could be facing high expenses or liability.

Condo Insurance Fire Claims

The Florida Legislature created a framework of who is responsible for what is inside and outside of a condominium building. While this legislation was passed “to simplify claims” it truly requires a professional adjuster to properly segregate what items belong on who’s claim. Fire damage claim adjusting in Tampa condominiums is complex and should be negotiated by professionals when handling coverage for recovery. The main difference between condominiums and apartments, are the interior of condominium units are not owned by the Association, while those same finishes in an apartment are owned by the landlord. In relation to condominiums, you have condo associations, property managers, Boards of Directors (or owners), condo HOAs, and owner/tenants. With all of these parties involved, it can be even more difficult to determine who is responsible for what expenses. This is why a professional public adjuster is paramount to achieving the proper, complete claim settlement when dealing with your insurer.

Condo HOAs often acquire HOA Master Policies which cover the main structure and common areas.

Condo owners are advised to adopt an HO-6 Policy, which covers the cost of interior fire damage involving fixtures, renovation upgrades such as flooring, wallcoverings, cabinetry, personal property, and loss of use while recovering from a fire.

Between Condo HOAs and their owners, and Landlords and tenants, having the appropriate insurance policies in place, they all can receive the relief they need to get their lives back.

Learn more > When To Bring In A Public Adjuster For Your Condo Association’s Insurance Claim

Determining Financial Responsibility For Fire Claims In Tampa

So, bottom line, who’s responsible for what? Even with the right insurance policies on hand, so many other factors can determine whether a landlord or tenant receives the compensation they need from an apartment or condo fire damage claim in Tampa:

• Fires caused by instances of negligence might not be covered
• Fire damage claims can be denied for missing certain documentation
• Fire damage policies may have strict stipulations for determining coverage

For the best chance of receiving what you are owed after fire damage in Tampa, it’s worth it to hire a team of public adjusters you can rely on!

Hire Expert Help For Your Apartment or Condo Fire Claim When You Call Altieri Insurance Consultants Tampa!

A lot to take in? You don’t have to go it alone. Reach out to Altieri Insurance Consultants Tampa today at (813) 247-4757 for apartment and condo management expertise when handling fire damage insurance claims. With a history of successful insurance settlements, our team of public adjusters is here to help you through your next disaster!