filing a homeowners' insurance claim

We own a co-op. Our dishwasher leaked into the unit below ours last night. I have no idea how exensive the damage is.

There are only two insurance companies that will provide HO insurance to our area (we're v. close to the water). I don't want to file a claim with our HO policy, since we've only been with them for six months, and I'm afraid they'll drop our coverage.

Am I crazy to think that we'd be better off paying for the damage (ours and the person downstairs) out-of-pocket rather than filing a HO claim?

Re: filing a homeowners' insurance claim

File a claim, do not do it out of pocket. You have no idea what the extent of the damage is and anything with Water, it's not worth the headache either because it has do be repaired right the first time because of Mold issues that may arise down the line.

Did the other unit contact you already about what the damage looks like? Did they call their Insurance Company yet?

Message edited 2/29/2008 10:07:47 AM.