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Insurance Deductible Reimbursement

Started by Slay
about 8 years ago
Posts: 29
Member since: Aug 2016
Discussion about
So neighbor above me flooded and caused water damage in my apt. I filed a claim with my insurance company and had to pay the $1,000 deductible. They are going to seek reimbursement for the costs they paid to have my apt. fixed, but they have stressed that they 'cannot guarantee recovery' of my $1,000 deposit. In what world would I not be able to recover my deductible from their insurance company? Makes no sense at all that I would have to pay a grand to fix damage this guy caused my apartment. Is this ever an issue getting the deductible recovered? And if so, what would the next steps be in getting the money back...contacting the board/management company to contact the guy to pay me? Suing him? First time homeowner so never come across this.
Response by Aaron2
about 8 years ago
Posts: 1693
Member since: Mar 2012

The board/management company will have no part in the claim, unless they are shown to be negligent or somehow involved. This is between your insurance company and the neighbor's insurance company.

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Response by Slay
about 8 years ago
Posts: 29
Member since: Aug 2016

Right and I am saying what if other insurance company refuses to reimburse my deductible? No reason I should have to pay $1,000 to repair damage other guy caused. I assume worst case scenario is small claims court.

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Response by nyc_sport
about 8 years ago
Posts: 809
Member since: Jan 2009

Did you talk to the source of the flooding? Usually, the first step in this situation is to get the neighbor and his/her insurance company to pay, rather than invoking your coverage. The neighbor's policy is only going to pay net of the deductible on that policy, so someone is going to be out of pocket here. You need to work that out with your neighbor.

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Response by Slay
about 8 years ago
Posts: 29
Member since: Aug 2016

Didn't talk to him. It's some 18 year old kid who left his AC unit on when he went on vacation, so he was not even around for the fallout. I asked for his contact info but the super wouldn't give it to me. Guy never even came by to apologize or anything. Sure I could go up there and say something but he's just some punk kid who has his dad as a guarantor who really paid for it all. But there is no reason I should pay a penny of this so either their insurance needs to, he needs to, or I'll have to take him to court.

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Response by 30yrs_RE_20_in_REO
about 8 years ago
Posts: 9876
Member since: Mar 2009

My guess is that you assigned your right to make a claim against the neighbor to your insurance company. They will seek recovery for the entire amount of the repair, but if what they get from the upstairs neighbor or his insurance company as a settlement falls short of that amount, they will first reimburse themselves and then pay you back your deductible (i.e. if the amount is $1,000 or more short of what they laid out, you won't get your deductible back).

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