Insurance Claims

The Recap Group Project Manager will work with insurance companies to complete and siding/construction work as needed.

To make an insurance claim, it is the same process for homeowners as for condo managers. Contact your insurance broker to start the process. Once a claim has been initiated, an insurance adjuster will be assigned to your claim. The adjuster will assess the damages, and help you to arrange the work. Home Owners / Condo Corporations do also have the option of requesting a payout of the amount that it had been quoted as facilitated by the insurance agent, and Owners sometimes do go that route. Ask your insurance adjuster about the risks and benefits to your policy as well as any requirements to complete the work to ensure that you are covered in any future event.


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Analysis

Strategy

We work with insurance companies to ensure that the client is receiving the best service and the best product that the insurance will allow for.

We also help the Owner/s of the policy in identifying opportunities to complete upgrades to their successfully claimed building component, if requested by the Owner/s. In this case, the policyholder may have to pay the difference. This may be an option considered for situations where the current building component is no longer satisfactory for the conditions of the property.

A common upgrade we are seeing, especially after the hail storm, is vinyl siding being upgraded to hardboard siding. Another common example is in the case of interior water damage, a carpet is often replaced with hard surface flooring. In these cases, the Owner/s would use the credit from the insurance company and pay the difference in the amount of the original building product to the upgraded.

Let us know if you have any questions, or if there is anything we can help you with.