When to Report Property Insurance Claims

This guide discusses the legal obligations of condominium associations in Florida regarding the reporting of property insurance claims. It outlines the requirements under Florida law for maintaining adequate property insurance and the implications of failing to report claims. The document explains that while associations are required to obtain insurance, there is no mandate to utilize it, which can lead to significant financial consequences if damages are not reported. It details the factors that insurance companies consider when determining premium increases and emphasizes the importance of timely reporting to avoid potential denial of claims. The guide also provides a step-by-step process for reporting claims, including the necessary actions to take upon discovering damage and the role of insurance adjusters in the claims process. Additionally, it highlights relevant legal cases that illustrate the consequences of delayed reporting and the necessity of preserving evidence of damage for insurance assessments.