Newbie here. Have a rental in a condo building in Los Angeles. Tenant occupied. A unit above left their water on, causes damage to my unit below. They have already admitted fault, and I have an email stating that. Damage probably a few thousand dollars, mainly that the walls need to opened and dried to prevent mold. Already have someone working on it now to mitigate damage at this point, Is it best to claim this through my own insurance, then have them go after the party at fault? Or, should I claim with the insurance of the party at fault?
My main concerns
1. Being made whole with the least hassle
2. Not having this count as a claim that I filed, which would raise my future premiums
Sorry that happened to you :( water damage is never fun, but especially not in Florida.
In most situations like these (and they're all too common in condos), your carrier would sue the carrier of the responsible party in what's called subrogation. I would definitely reach out to your agent and have them walk you through the claims process, if you haven't already filed. Our advice here is mostly hypothetical, as insurance is incredibly subjective, and we could be missing pertinent information.
Just to clarify- any damage to the property that results in a claim- regardless of fault or whose insurance the claim was filed- will show up on the history of the home, which may still affect premiums. Carriers, when they write a policy, are evaluating both the risk of the property and the risk of the occupants/owner.
It likely will be a pretty smooth process, but keep your agent informed and involved. When any claim is filed, and if there is damage to the home, typically carriers are going to require proof that the damage has been fixed (pics, invoices, etc...). Keep every document and send an electronic copy to your agent. Screenshot emails between you and your adjuster. While there are no good guys or bad guys because everyone is just trying to do their job, your agents job is to advocate for YOU.
If you go against the unit owner's policy they'll probably depreciate the claim, however your deductible won't apply. If you go with your company you'll probably get full replacement cost but your deductible will apply and they will attempt to recover from the other unit owner's policy. If you have an admission of negligence and acceptance of liability in writing, may be worth it so just see what the other unit owner's carrier will give you.