Well, another unit had a leak. When that happens, you call Ali or even better and faster is you knock on the door and tell the owner about the leak so they can shut the water to the shower, sink or toilet. Then you call your insurance company. They handle everything else for you. Don't worry if your neighbor above you has no insurance. Your insurance company will do the repair and sue the neighbor. If they have no insurance they are personally liable and they learn an expensive lesson on why you need condo insurance. I am pasting my email of April 16 below. That email told everyone the reasons for condo insurance and the state law governing what YOU are responsible for. Protect yourself! If God forbid a common pipe breaks, we take care of it. Everything else is the responsibility of the unit owner. You OWN your apartment. You are not renting an apartment.
WHY YOU SHOULD HAVE INSURANCE FOR YOUR UNIT
1-Florida State Law has recently changed. If a common area pipe breaks, the condo is only responsible for fixing the pipe and the wallboard. Everything else is considered an “insurable loss” and must be claimed on your own insurance. If you have no insurance you will have to pay for your own repairs or remediation if needed. The condo no longer takes care of that. You can refer to the law below. Keep in mind that our pipes are 50 years old.
http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0718/Sections/0718.111.html
2-If there is a leak, or fire, etc., from another unit that damages your unit, you can hire a lawyer and sue your neighbor, OR if you have insurance, you can report it to them, they will pay for whatever damage you are insured for and then they deal with your neighbor and/or their insurance company.
3-If you have a leak, a fire, etc. that causes damage to the units above, below and around your unit, insurance will protect you from the lawsuits of every owner who suffered damage.
4-This is probably the most important reason in my opinion, LIABILITY. If anyone visiting or working in your unit gets seriously injured in your unit you may be sued. If they can prove negligence they can sue you for everything you are worth.
5-If we are hit by a storm which causes damage, our building deductible is very high. If we pass an emergency assessment to pay for storm damage, Florida insurance law requires a provision to cover you for the first $2000 of the assessment, minus your deductible. This happened once a few years ago. Those who had no insurance paid $2000. I paid $500 which was my deductible. If you get insurance, I strongly suggest you do NOT waive that protection.
6-You all have auto insurance on a car that may cost a few thousand dollars or $100,000. Your condo unit is worth at least $300,000 or more depending on your unit’s size and condition. Why wouldn’t you protect that very large investment?
Please don’t mistake this as a warning, a threat or a demand that you must carry insurance on your unit. This is just me finding out that many of you are not insured and I am concerned for you. There are plenty of insurance agents in Florida. Don’t take my word for it. Talk to an agent and get his/her opinion.
Stan
I have Condo Insurance at about $800 for 1 year. Small price to pay for the benefit that I receive to sleep at night. Just like Car Insurance it is the cost of a responsible owner.
Water leak: We are all in this together ... if a condo has a leak, turn off the red valve to the water for the unit until it is determined where the leak is. It's simple. Leave a note that you did so on their door and email Ali.
When leaving your Condo for more than a few nights, turn the red valve off until you return. If you aren't familiar with which one it is, ask Henry.