Third Party Property Insurance Claims
Natural disasters and catastrophic events can lead to serious property damage. Sometimes, properties that are unscathed from the event itself may be impacted by damage from surrounding properties. For example, your neighbor’s house caught on fire. While your home was not the one that caught on fire, your home was damaged from the large flames and your home also sustained some smoke damage. Unfortunately, not all insurance companies cover losses caused by a neighboring property. However, this does not mean that there are no legal remedies for the property owner. A property owner may be able to file a third-party claim to recover for damages on your property.
What are Some Events That Can Cause Damage to my Property?
Damage from neighboring property can vary. Although not an exhaustive list, damage can occur to your property from:
- Debris from another home;
- Flooding as a result of a broken pipe outside of your property;
- Construction to a neighboring home that somehow caused damage to your home; or
- Fire that spreads from a neighboring property.
What Options Do I Have as a Property Owner?
If your home or business is damaged by a neighboring property, you may have a couple of recovery options. First, you should check with your insurance company to see if the policy covers any losses caused by a neighboring property. If your insurance policy does not, you may be able to make a legal claim against the other property owner. However, you should consult with an experienced property insurance attorney to understand if this is an option for you.
If your home sustained any damage or loss caused by a neighboring property, you should consult with an experienced insurance attorney to help you understand what recovery options may be available to you.
The Law Office of Craig A. Blumberg is an experienced New York City insurance law firm. If you require quality assistance after having suffered property loss, please contact our firm to schedule a free initial consultation.