ask to see the master policy
read the condo documents
Here's the thing. The HOA's insurance policy may cover your unit, which would make THEM the beneficiary, not you. With that in mind, there is no "overage" that would revert to you.
But, your CC&Rs may vary. So talk to an attorney - as a homeowner, you should have one, anyway.
All the best,
Assuming that your unit was the only one damaged, the HOA should provide you with an itemized claim, with an itemized offer to settle from each carrier, the form of coverage (Guaranteed Replacement coverage is rare); the applicable deductible(s).; and the extent of any lender payouts. .
If the claim is still open, and if the HOA directors are not satisfied with the proposed payout, it may want to consult the HOA attorney about retaining a public adjuster.
Hopefully your HOA has established a reserve for useful-life/catastrophic replacement.
In California every County has a lawyer referral service run by the County Bar Association, with an initial fee of around $50. I donâ€™t know if there is anything similar in Chadds Ford.
LEOPOLD A RODRIGUEZ
Single Agency Broker 00849905
400 Montgomery 505
San Francisco CA 94104
Not sure of the full question. Sounds like there was a claim against the insurance that the HOA carries. Is that correct? Are you making the claim or is it someone else? What type of claim is it for? (damage to property, etc). Sorry not really able to answer the question without knowing the full details. In an insurance claim situation typically the person filing the claim would speak directly with the insurance carrier, not the HOA. If there was a claim filed against the HOA you may want to approach the HOA board to determine the amount of the payment.
Without knowing the full details it will be hard to be specific regarding your situation, but hopefully this gives you some information to work with.
Hope that helps!
Alain Pinel Realtors