Residential & Condo Losses
Residential claims include those who own a single or multi-family home, live in a condo unit or are renting an apartment.
There are a number of Residential Insurance policies, all of which differ greatly between insurance companies and as well as different types of coverages within those companies.
There maybe Endorsement or Exclusions within your policy that differ tremendously from your neighbor’s policy, even though you are insured by the same company. Knowing what is included AND excluded within your policy is key in understanding what you are AND are not covered for when it comes to Recovery.
NFA has on staff a number of Building and Contents Estimators available to assist in determining the scope of damages sustained to your property. Having a knowledgeable team, at your disposal, can be crucial when it comes time to present your loss and negotiate a settlement with your insurance company.
NFA handles claims for individual condo owners as well as Condo Associations and Homeowner/Town Home Associations.
Condominium losses are unique and differ greatly from a typical Commercial/Residential loss. What makes these losses so different is what each party is responsible for.
Our adjusters will review the bi-laws of your Condo Association in order to fully determine what items fall under the responsibilities of Condo Board Associations vs. the individual unit owners.
Typically, the unit owners are responsible for any damages that occur within the interior walls, betterments/improvements you have made to your unit, as well as any personal property; while the Condo/Town Home Association Board is typically responsible for damages from the outside (finished drywall) and all common area.
However, bylaws within your association may differ and a full analysis of this contract, in addition to your insurance policies, will better- equipped our adjusters when it comes time to determine the scope of damages and negotiate with your insurance carrier.