I own a commercial property that was under construction-being completely remodeled when the adjacent building caught on fire doing severe damage to my property. I was only carrying builders risk insurance and the owner of the other property said his insurance was not responsible. So, who should pay for all the damages done to my place??? Am I just at a loss???
2 Answers from Attorneys
If the owner of the building was in any way negligent in the upkeep of his building, and the negligence caused the fire, his insurance would cover your loss. The only situation the I believe would preclude coverage would be if there was arson committed by a third person.
Your builders risk policy should cover the fire loss. If any other party is responsible, they too are liable. This is the same as an auto accident: your own insurer repairs your vehicle and then you and maybe the insurer sue the defendant for your deducbible, your uninsured losses and damages, and the insurer for subrogation to get its payment back.