Tag: condo insurance
Reducing Condo Liabilities: Exposures to Watch
While the right combination of condo coverages should financially protect you during a loss, wouldn’t it be great to manage these exposures before they become a liability for your association?
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Short-Term Rental Situations and Condo Insurance
A new way of living is taking root in the housing market. Founded in 2008, Airbnb has ushered in a wave of people leasing and renting short-term lodging to vacationers, college students, etc. Not confined to owners of homes, condominium unit owners and long-term renters of condos are utilizing Airbnb to bank some extra cash, […]
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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 »Insuring Amenities in Condo Complexes
As the weather gets warmer and the days get longer, a lot of unit owners take advantage of the amenities that their condo complex may provide. These amenities vary from the basic balcony attached to a unit owner’s condominium to the in-ground pool widely used during the summer months. Whether it’s a pool, basketball court, […]
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 »Snow Removal for Condo Associations
Pretty from the inside but a liability from the outside, snow and ice accumulation on steps, roads, and walkways not only can cause injuries but lead to lawsuits! One lawsuit can be costly to any association. A resident could injure themselves, be unable to work, accumulate a mountain of medical bills and you, the association, […]
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