Flood damage reinforces value of renter’s insurance

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Question: I came home after work Sunday night to find firemen in my rental condominium removing my belongings. A hot water pipe from the unit above me had broken and 500-700 gallons of water were inside my unit and soaking my belongings. Ceilings and walls were coming down, and a restoration person had already started working on the upstairs unit when I arrived. He worked on my unit until 3 a.m. the first night and several days thereafter. I am still in a motel and will be at least until the end of next week. My mattress and furniture were soaked, the drawers won't open on chests, upholstered items and clothing are damaged, etc. Is my landlord or the homeowner's association (HOA) responsible for my damaged personal items or perhaps the owner of the condo above me? Property Manager Griswold replies: Contact your renter's insurance carrier and they will take care of you and then they can subrogate against the other unit owner and/or the HOA. If you don't have renter's insurance, you are ...