Category: H&K Condo Insurance
The Challenges of Condo Self-Management
The debate as to whether to hire a professional management company, given the financial burden, or to continue to be self-managed is a difficult one. When dealing with insurance, associations have four major issues they need to consider: communication, claims, renewal coordination, and budgeting. Communication key, the association needs a point of contact who has […]
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Condo Association vs. Townhouse: How to Determine
You’ve begun making the first steps in ensuring that your place of living is properly covered, but you’ve run into a bit of confusion in the process. Is your housing community a condominium or a townhouse?
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The Importance of Crime Insurance
The Board of Directors is charged with helping an association run smoothly and efficiently, but are you prepared when one or more of those members engage in thievery?
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Loss Assessment Endorsement for Unit Owners
When a major loss happens in a common area, the building itself, or in a shared structural area of the condominium, the financial loss has to be made up somewhere.
read more »Specialty Insurance Coverages for Your Condo
We all know about the standard insurance coverages for associations. At the bare minimum, you need to insure your complex with a condominium master policy, and it would be wise of you to invest in D&O and crime (fidelity) coverage for your association.
read more »The Differences between a Condominium Master Policy and HO6 Policy
A condo complex is typically made up of two components, the common structures of a dwelling that is accessible to everyone and the units that are owned by individuals. Two different policies, the condominium master policy and HO6 policy, cover the spaces and it’s important to know where coverage for one begins and the next […]
read more »What HOA’s Need to Know about D&O Insurance
Good board members are hard to find never mind retain. The board is made up of volunteer unit owners responsible for enforcing the rules and by-laws of the association. Some unit owners view the board as a bit of a drill sergeant. In the rule-breakers eyes, the board does things too much “by the book.” […]
read more »“Silent Killers”: Health Hazards for Condo Associations
We’re used to hearing about mold, but what about equally common health hazards like lead, asbestos and radon? Less-commonly talked about does not mean less of a risk. In fact, the impact of these health hazards is very real, and depending on the state you reside, condo associations could be required under the law to […]
read more »Disaster Planning for Condo Associations
It’s 2:00 o’clock in the morning when you are awoken from your peaceful slumber by a panicky unit owner. A pipe burst in the upstairs unit and now water is gushing into her condo down below. What do you do? Who do you call in that hour of the morning?
read more »How to Handle a Burst Pipe Claim
The temperatures in New England have been quite cold lately, causing pipes to burst and water damage to condominiums. You hear stories on the news and pray that it never happens to your complex, but what do you do once you get that dreaded phone call?
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