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In reply to the discussion: "How could a collapse of a condo in Surfside, FL happen?!" [View all]Hoyt
(54,770 posts)49. No insurance expert, but I don't think normal property insurance covers
erosion, building damage, etc., over a long period of time, especially when the problem was identified and nothing substantial was done to ameliorate the damage.
On CNN just now, they talked to a lady who had been renting a unit in the portion that didnt collapse. She did not get the recent letter abou the need for repairs. I bet the estates of other renters will have a cause of action against owners who did not warn them. Its going to be a big mess.
Lawyers, engineers, etc., will do well all along the coast.
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Clearly, regulations failed the residents. But I'd bet the residents would not have ponied up money
Hoyt
Jun 2021
#3
The reporting today is that repairs were expected to be about $15m, and work was starting to
Politicub
Jun 2021
#25
But where I live, where there are regulations, we keep hefty insurance to cover
Scrivener7
Jun 2021
#48
No, the answer is not simple. We don't know exactly what it is yet but it's definitely not simple.
Towlie
Jun 2021
#5
After the photos that came out last night, I'm surprised this doesn't happen more often.
Initech
Jun 2021
#15
Like everything else capitalists touch: get the money and run. Stiff the stiffs.
erronis
Jun 2021
#37
One reason I won't live in a red state - lack of regulations on road, building,
Rabrrrrrr
Jun 2021
#20