What is our recourse in collecting monies for damaged building caused by adjoining building's collapse?
by Howard
(Missouri)
On May 30, 2010, in the historical downtown district of Louisiana, Missouri, a building collapsed & damaged the building next to it. We own the damaged building.
It has been determined that due to our good care of our building, the rest of the buildings were spared the domino effect & damage to the whole block of historic buildings.
Neither insurance company will pay for the damage caused to our building because there is no verbage in the insurance policies that cover "collapsing buildings which damage adjoining buildings.
The building that collapsed has been neglected for years, which we can prove. The owners were aware that their building was in disrepair.
The preliminary report by the insurance company representing the owners of the collapsed building is saying that "hidden causes" within the building caused the collapse, (resulting in a claim for the owners of the property) that damaged our building.
It is estimated that the damage to our building which we purchased and updated in 2006 will cost us approximately $100,000.
To view the incident: Louisiana, Missouri: Louisiana Press Journal, "Building (Rainbow Florist) collapses in downtown Louisiana, Missouri.
Presently, we have no recourse than to let our building fall into complete disrepair or let the city have it.
I would appreciate any information that you can provide me. We are in shock & disbelief that something like this can happen. Thank you for your time.
| Disclaimer: Information provided in your response is not formal legal advice, it is generic legal information and is based on the very limited information given in your question. You should always get a formal case evaluation from a licensed attorney. |
