Damage to property and persons but also restoration: how does compensation work in the event of a loss in a condominium?

A well-insured co-ownership

Water damage, fire... There are many risks in a flat, but in the case of a loss in a condominium, the matter can become more complicated. In fact, the insurance of such a building is twofold. The condominium manager must have taken out a collective insurance policy for the common areas, i.e. the hall, stairwell(s), car park, everything related to the ventilation and heating system, etc. Each occupant then insures the private parts themselves via a home insurance policy. It is also possible, if the occupants are owners, to opt for a comprehensive multi-risk group contract.

In the event of a claim

Any damage in a condominium must be declared within five working days of the event, or ten working days in the case of a natural disaster. It is then up to the syndic to determine the origin of the damage. Water damage in a flat may, for example, be due to a leak in the common areas. A plumber is commissioned to carry out investigations, and the costs incurred will depend on what he finds: they will be covered, like all the damage, by the occupant's insurance if the origin is private, by the co-ownership's insurance in the opposite case. As for the repair work, it is the responsibility of the occupant or the syndic. The same applies if a fire occurs: experts will be sent to the premises to establish responsibility. For the common parts, the compensation will correspond to the value of refurbishment. For private areas, everything will depend on the type of insurance taken out by the occupant.