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Pay out our pocket vs claim from insurance

By Bali Martin on Wed, 13 Mar 2019 at 21:57

We had a vehicle drive into our gate motor today. Our chairman is stating that he wants the gate repaired at our cost out of our pocket regardless of the price as he states that residents care more about their safety, we are staying that if the insurance is cheaper due to only paying the excess we need to rather claim. Our complex is already in financial difficulties but I would like to know if we have a greater duty to protect the residents security or keep the costs lower as everyone is already complaining about levies going up higher and higher.
Thank you

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RE: Pay out our pocket vs claim from insurance

Murray Bennett replied on Mon, 18 Mar 2019 at 00:02

If you have an adverse claims history, it could better to pay from BC funds. Also what's the difference between the costs and the excess, it may be minimal or a large amount which needs to be taken into consideration. If you have the details of the car that caused the damages the cost should be recovered from it's owner.

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