If you own a condominium and it is the only place where you can stay, what happens if it gets seriously damaged and repairs need to be made? The experts at George Ryan Jr. Insurance Group Inc serving Bourbonnais, IL, and the nearby communities, have dealt with this many times.
Neighbor’s Simple Mistake Causes a Nightmare
In a condominium building, your neighbors are as close as the walls and floors that separate you from them. Noisy neighbors may be annoying but that is not a danger.
Imagine if your neighbor put something on the stove and then forgets about it. It causes a fire that burns through their place and causes severe damage to your condo. Nobody is hurt; however, your condo is wrecked. You have replacement-cost insurance coverage that is adequate to cover the claim and to make the repairs. That was a smart move.
You quickly choose a qualified contractor to do the work. Everything is OK so far because you are staying in a nearby hotel. Then, the contractors tell you the local building permit department is back-logged and it will take six weeks to get a building permit approved for your repair job! That’s six weeks before the work can start.
You do a quick calculation of the cost of staying in the hotel for six+ weeks. There is no way you can afford it. You are overwhelmed and do not know what to do.
Living Expenses Coverage
The causes of this problem may differ; however, this nightmare scenario is very common. Many people insure the obvious things, yet forget about the expenses that arise when an unexpected calamity happens. Fortunately, it is possible to cover this risk.
Call 815-936-0075 to speak with your agent at George Ryan Jr. Insurance Group Inc in Bourbonnais, IL. Find out if your condo insurance has a provision for living expenses incurred while repairs are made for a covered disaster. This is the kind of fine-tuning of insurance coverage that is a good idea and comes in handy if you need it.