Question
What is the name of your state? Colorado
Thank you for reading. Your advice is highly appreciated.
I own and rent out a condo in Colorado. The hot water heater broke and leaked to the below neighbour. I did not realize that I had no home owners insurance (1st time home owner) besides the condo association fees. My neighbour does have insurance and they are covering the damage.
Am I liable for damages?
Thanks,
Answer
What is the name of your state? Colorado
Thank you for reading. Your advice is highly appreciated.
I own and rent out a condo in Colorado. The hot water heater broke and leaked to the below neighbour. I did not realize that I had no home owners insurance (1st time home owner) besides the condo association fees. My neighbour does have insurance and they are covering the damage.
Am I liable for damages?
Thanks,
There is a reasonably good chance the neighbor's insurance company is going to come after you to reimburse them. In turn, you might have a claim against the mgmt. co. for failing to keep the heater in good repair. (I stress the "may".)