When hail strikes in a ferocious storm, it often doesn't last long. People quickly duck inside to wait it out. When they emerge, though, they may find lasting damage that poses an incredible financial cost. Even a short storm can be absolutely devastating for local property.
As a contractor, you probably take great pride in the work you do for your clients. Whether you enjoy bringing a project to fruition or helping others in their time of need, working in the construction field can be fulfilling in numerous ways.
When a home is damaged, a homeowner's first move is often to file a claim with his or her insurance company. In some cases, that claim may be denied even if an individual believes that the damage is covered by the policy. If a claim is denied, it is important to review the terms of the policy carefully to see if the damage actually was covered. It may be best to do so prior to filing the claim.
On February 6, 2019, the Iowa Court of Appeals published its decision in 33 Carpenters Construction, Inc., v. The Cincinnati Insurance Company, No. 17-1979, a case involving a post-loss assignment of a property damage claim to the insured's contractor. The case has important implications for both insureds and contractors performing insurance restoration work with an assignment of benefits (sometimes also referred to as an "assignment of claim.")
As summer rapidly approaches, we tend to think about shorts, barbeques and warm weather finally coming after a dreadful winter. However, a significant part of summer is the massive storms that happen all season long.
After a storm, damage to a home or building may not be evident right away. In May 2018, a hailstorm struck York County in Pennsylvania, and many buildings sustained damage. While the owners of these buildings may have insurance coverage, there is a deadline by which they must file an insurance claim. Generally speaking, the deadline is one year from the event that caused the damage to occur.
Being a member of the Board of Directors at your Homeowners Association can be a thankless job. With all of the issues the Board has to deal with, responding to document requests from homeowners should be an easy one. Still, one of the major complaints we hear from Boards is the overwhelming amount of paper, documents, and other files that Associations retain over the years. While many Associations have been able to convert their files to electronic format, many others still maintain paper files.