Million Dollar Residences Devastated by Hurricane
LPT is a residential complex with luxury condominiums in a twenty-five story building, with townhomes along the perimeter, most facing the Atlantic Ocean.
Hurricane Jeanne, a dangerous Category 3 storm began its assault on the east coast of Florida on Saturday night. Jeanne was the fourth hurricane to strike the state in only six weeks.
As the storm came ashore with sustained winds near 115 mph, LPT was in the path of the storm. The storm inflicted serious wind damage-the penthouses and some of the others lost their sliding glass doors and blew out of their frames. Balconies were damaged and railings were damaged and blown away.
Hurricane debris hit the fire sprinkler head causing the system to engage and as a result - water poured down into the units below.
The BCH Group met with the association when the insurance company stated the insurance claim was under their deductible. Their team of experts prepared a detailed estimate; accurately describing the property damage, and substantially increasing the settlement amount.
The BCH Group faced difficult negotiations and the pressure to settle the claim increased as the insurance carrier was going into receivership and was being prepared to be taken over by the Florida Insurance Guaranty Association.
Their expertise in navigating the claims process allowed LPT to reach a satisfactory, but reduced settlement, due to the company's financial position.
Jeanne was the first major (Category 3 or higher) storm to make landfall on the east coast north of Palm Beach since 1899.