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Claiming on block insurance when behind on management fees

  • 09-10-2012 11:47am
    #1
    j2606
    Registered Users Posts: 9 ✭


    I have a cheeky type of question, if I'm behind (as in 2 years) on management fees am I still entitled to claim from the block insurance?

    Thanks in advance.


Comments

  • #2
    markpb
    Registered Users, Registered Users 2 Posts: 9,317 ✭✭✭markpb


    j2606 wrote: »
    I have a cheeky type of question, if I'm behind (as in 2 years) on management fees am I still entitled to claim from the block insurance?

    It depends on the company. Some OMCs will note serious debtors on the block policy so that they cannot claim on it. Others will let you claim but use the money to offset your debts.


  • #3
    athtrasna
    Closed Accounts Posts: 13,420 ✭✭✭✭athtrasna


    j2606 wrote: »
    I have a cheeky type of question, if I'm behind (as in 2 years) on management fees am I still entitled to claim from the block insurance?

    Thanks in advance.

    Any claim paid by the insurance company will be paid to the insured i.e. the management company.

    Any management company would be negligent to the other company members if they paid the money to an owner without deducting fees due. Each claim potentially increases the insurance cost for future years which would increase fees for all owners.


  • #4
    Victor
    Registered Users, Registered Users 2 Posts: 78,457 ✭✭✭✭Victor


    Split from: http://www.boards.ie/vbulletin/showthread.php?t=2056096135

    Moderator


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