Condominium associations and HOAs in Florida are not getting younger, they are aging, and at a more rapid pace than northern properties. Why? Salt, causing accelerated corrosion from our beaches and proximity to the salt water bodies of the Gulf Of America and the Atlantic Ocean. Also, the minerals in our drinking water are high […]
Florida High Court Lets Stand Ruling on Damage Estimates in Supplemental Claims
The Florida Supreme Court on Thursday declined to consider a petition in a condominium insurance case, leaving in place conflicting rulings from Florida appeals courts. The non-decision in American Coastal Insurance vs. Patios West One Condominium Association, stemming from a Hurricane Irma claim, means that, at least in part of the state, insureds do not […]
This Endorsement Changes Policies – Please Read It Carefully
There has been a lot of discussion lately about adding an association as an additional insured versus as an additional interest on a community association’s liability policy. It has come up when discussing clubhouse rentals, hiring contractors, and adding electric vehicle charging stations on common area property. During these discussions, one thing has been pretty […]
Illinois Appellate Court Decision Reinforces Condo Association’s Right to Assess Deductible After Fire Damage
Illinois condominium associations can be placed in the difficult position of balancing equitable treatment of unit owners with fiscal responsibility following unexpected damage to the property. A recent decision by the Illinois Appellate Court provides critical guidance on an association’s authority to recoup insurance deductibles from a unit owner in circumstances where the damage originates […]
The Evolving Landscape of Condominium Insurance in Michigan: Legislative Provisions, Policy Factors, and Industry Trends
Condominium associations in Michigan play a crucial role in managing residential communities and ensuring compliance with state laws and regulations. Condominium insurance is an integral part of this ecosystem, providing financial protection against liabilities and property losses for both associations and individual unit owners. Understanding how Michigan’s Condominium Act (the “Condominium Act”) shapes these insurance […]
Property owners impacted by fires sue CA insurers for colluding to drop coverage in fire-prone parts
Two lawsuits filed in Los Angeles allege major home insurance companies have colluded to limit coverage in California communities at high risk for wildfires and force homeowners onto the state’s last-resort insurance plan that offers basic coverage and high premiums. Insurers, including State Farm and 24 other companies that hold 75% of California’s home insurance […]
Navigating Insurance Claims After Natural Disasters (CA)
Natural disasters – whether hurricanes, wildfires, floods, or winter storms – can strike with little warning, leaving behind costly damage and confusion. For homeowner associations (HOAs), the aftermath of such events is often complex. Common areas may be damaged, multiple homes could be affected, and residents may look to the board for guidance. Having a […]
Learn how condo insurance works (WA)
For people living in these communities, there are typically two insurance policies that cover different parts of their living space. One is paid for by owner dues and covers certain losses for the community’s Homeowner’s Association (HOA). The other is an insurance policy the owner buys, which is sometimes referred to as an HO-6 policy. […]
Flofida Could Alter Coverage for Supplemental Claims
In Florida, supplemental insurance claims are statutorily defined and generally treated as claims separate from the original underlying claim. Could a trial court allow coverage litigation for a supplemental claim to proceed alongside an appraisal of the amount of loss for that same supplemental claim? The Florida Supreme Court signaled an interest in tackling this […]
HOA Insurance: What Is It & Do You Need It? (TX)
Managing a homeowners association comes with significant responsibilities, from maintaining common areas to enforcing community rules and managing finances. Among the most critical duties for HOA board members and community developers is safeguarding the association’s assets and mitigating potential risks. This is where HOA Insurance plays a vital role. It’s a foundational element of responsible […]
New wildfire insurance policy rewards forest management, cuts costs for Tahoe Donner (CA)
The Nature Conservancy (TNC) and Willis, a business of WTW (NASDAQ:WTW), have announced a groundbreaking $2.5 million wildfire resilience insurance policy—the first of its kind to factor in wildfire mitigation efforts. Structured by Willis, the policy was developed for the Tahoe Donner Association, a private homeowners association in Truckee, California. Read the article…………………………….
Why Contractor Insurance Policies Matter More Than Ever (NY)
Labor law insurance claims continue to threaten insurance coverage for buildings, but there are some actionable items co-op and condo boards can take to reduce this exposure. Sean Kent, senior vice president at FirstService Insurance Brokers, explains what they are, and how a 250-unit Bronx co-op overcame an insurance crisis when labor law claims threatened […]
Insurance relief may come soon for condos in crisis (HI)
For the first time since an insurance crisis hit Hawaii condo owners, there is a timeline for state coverage to provide some relief: this June. In recent years, multiple disasters worldwide have pushed up the cost of insurance, and in Hawaii, aging condos also have maintenance and safety issues that made private insurers reluctant to […]
Miami Lakes insurance agent personally ‘pocketed’ HOA’s $220K premium, authorities say (FL)
A Miami Lakes insurance agent is facing multiple felony charges after state investigators said he personally “pocketed” a more than $220,000 insurance premium on a condominium association’s policy. But he’s already staring down a three-year federal prison sentence in an unrelated case for an even bigger swindle. Read the article…………………………….
Navigating Florida’s Challenging Insurance Landscape: How to Choose the Right Provider for Your Condominium Association
Those who live and work in Florida know that there is no better place…anywhere. However, every paradise must have its snake, and for us, that snake’s name is “windstorm.” Hurricanes, tropical storms, cyclones, and the like are apt to occur anytime, but most particularly between the months of June and November. Financial planning and budgeting […]
California Expands FAIR Plan Insurance Limits Amid Wildfire Risks and Insurer Withdrawals
The California Fair Access to Insurance Requirements (FAIR) Plan serves as the state’s insurer of last resort, stepping in to provide essential property coverage when traditional insurers leave high-risk zones. Established in 1968, the FAIR Plan is a private consortium of insurance companies operating under state oversight. It was never designed to replace private insurance […]
California Insurance Commissioner Approves Major FAIR Plan Expansion to Help HOAs…Access Insurance Coverage
Insurance Commissioner Ricardo Lara last Thursday announced the approval of the California FAIR Plan Association’s commercial filing to increase commercial property coverage limits. This move is a key element of Commissioner Lara’s ongoing Sustainable Insurance Strategy and continues the implementation of landmark reforms to address California’s property insurance crisis. Read the article…………………………….
Does Homeowners Insurance Cover Wildfires? What Do HOAs Cover? (CA)
Wildfires are becoming an increasing concern for homeowners, especially in states like California where dry conditions and strong winds create the perfect storm for fast-spreading fires. If you live in a homeowners association (HOA) community, you may be wondering how much protection your insurance provides and whether your HOA’s insurance> covers wildfire damage. Understanding the […]
WILDFIRE DEVASTATION & INSURANCE FALLOUT – What Your HOA Needs To Know (CA)
In January, wildfires destroyed 16,240 homes and commercial properties including condominium associations and planned developments. Loses are estimated between $95 billion and $164 billion, with insured losses estimated at $75 billion. Associations statewide already had trouble finding insurance. The Los Angeles fires will make it even harder, and premiums will increase significantly. Are you interested […]
Navigating Property Damage Claims: A Guide for Association Boards
When disaster strikes an association, it’s essential for the association board to act swiftly and effectively to navigate the complex landscape of property damage claims. Whether it’s fire, floods, mold, or wind damage, the role of the board in moving a property claim forward is crucial. Read the article…………………………….
All D&O Insurance Policies are Not Created Equally: Board Members Should Know Their Liability Risks (MA)
In our overly litigious society, it is said that anyone can sue anyone for anything. The volunteers serving on condominium association boards sometimes feel as if they can be sued by almost everyone for almost everything – an overstatement, perhaps, but an understandable one. It is certainly true that condo owners are not always happy […]
Condo Owners Fight Back: Accuse Insurer of Bad-Faith in Denying $2M Hidden Water Damage Claim (WA)
In a significant legal skirmish unfolding in Seattle, The Florentine Owners Association has launched serious accusations against Affiliated FM Insurance Co. (AFM), alleging that the insurer is intentionally dragging out its investigation into a substantial hidden damage claim, potentially to avoid paying over $2 million in repairs. According to the complaint filed on March 6, […]
Construction Defect Claims and Insurance Defense: What Community Associations Need to Know
Condominium, homeowner (HOA), and townhome community associations can face construction defect issues that can lead to costly legal disputes. Defects in design, workmanship, or materials can cause significant property damage and safety concerns that can leave associations to navigate repair costs, resident complaints, and potential litigation. Read the article…………………………….
Florida Condo Insurance Rules Could Get Legal Shake-Up (FL)
Condo associations failing to comply with Florida’s new building-safety legislation could be denied coverage by the state’s insurer of last resort, Citizens, under a bill proposed by Miami State Representative Vicki Lopez. Read the article…………………………….
Miami lawmaker proposes revoking Citizens coverage for non-compliant condos (FL)
A Miami lawmaker is proposing to end state-run property insurance for condo associations that shirk compliance with new building-safety laws passed after a 12-story residential tower in Surfside collapsed in 2021, a move that would largely impact South Florida. Most condominium buildings three stories and higher must have had a building-safety inspection and study outlining […]
How a Condo Board Overcame a History of Insurance Claims (NY)
History is destiny, some say. Nowhere is this adage truer than in today’s hard insurance market, where co-op and condo boards are finding that a history of major insurance claims often leads to rising premiums, shrinking coverages and, in some cases, an inability to renew existing policies or find a new insurance carrier willing to […]
The Condo Crisis No One’s Talking About: Insurers Are Walking Away From HOAs
Insurance premiums are increasing for many homeowners, as insurers blame the rising coasts squarely on climate disasters. For HOA owners, the issue is compounded, as their homeowners association fees are also skyrocketing due to the association’s burdens. Read the article…………………………….
The Condo Crisis No One’s Talking About: Insurers Are Walking Away From HOAs
Insurance premiums are increasing for many homeowners, as insurers blame the rising coasts squarely on climate disasters. For HOA owners, the issue is compounded, as their homeowners association fees are also skyrocketing due to the association’s burdens. A recent Realtor.com® report shows that 40.5% of current listings have an HOA fee, up from 39.2% the […]
LA fires fuel concerns over rising cost, availability of Tahoe homeowners’ insurance (CA)
Multiple homeowner’s associations (HOAs) are also increasingly involved in creating and enforcing “firewise community standards.” The Tahoe Donner HOA, for example, has its own forestry department which it claims is “is nationally regarded as a leader in their field when it comes to defensible space, wildfire reduction and overall forest health.” Read the article…………………………….
Insurers Flee HOA Market: Is the Condo Boom Heading for a Bust?
Insurance companies are increasingly pulling back from offering coverage to homeowners’ associations (HOAs), leading to significant challenges in the condo market across the United States. According to YF’s Claire Boston, this shift is largely due to the rising costs and risks associated with insuring common properties amidst increased frequency of extreme weather events and the […]
Insurers are dropping HOAs, threatening the condo market
Insurance is getting harder to find and more expensive in much of the country. Just ask homeowners’ associations. Mirroring trends in the single-family home market, insurers are boosting premiums or exiting the business of covering HOAs’ common property entirely, citing rising losses from extreme weather and aging buildings. The steep premium hikes usually end up […]
Navigating Insurance Claims for Damage Caused by Extreme Cold and Frozen Pipes (MN)
The extreme cold can cause extensive damage to your business or personal property. It is important to timely report any property damage to your insurance company and take necessary steps to prevent further damage. The damage may displace you form your home or interrupt your business activities. Read the article…………………………….
Higher Insurance Costs and Your HOA: What You Need to Know
Are rising HOA fees about to hit your wallet harder than you expected? Let’s talk about why HOA fees keep going up and what it means for people like you who own a home. It’s likely that you’ve observed an increase in various living expenses lately, with costs such as housing, food, and insurance on […]
Kickstart 2025 with an Insurance Checkup
As we kick off the new year, it’s the perfect time for HOAs to take a fresh look at their insurance coverage. This annual checkup is a smart way to ensure your community is properly protected and that you’re ready for whatever comes your way in 2025! Here are some important considerations to help you […]
The Impact of Rising Insurance Costs on California HOAs
Even before the devastating fires that are still raging in Los Angeles, HOAs in California were facing skyrocketing insurance premiums. And now, it’s only going to get worse. The staggering rise in insurance costs are already affecting HOA budgets, homeowners, and the sustainability of adequate coverage across communities. As natural disasters become more frequent and […]
D&O 101 — Protecting Your Board
At the heart of volunteerism is the notion of doing something for the common good. For many, choosing to live in a co-op or condo community is also choosing to volunteer for board service, helping to guide and govern the community they call home. But with that impulse to serve the common good lurks the […]
The Truth Behind Rising HOA Insurance Premiums
HOA insurance, sometimes called an HOA Master Policy, offers financial protection against a variety of issues that can arise in a community, from physical safety issues to financial mismanagement. This will include the obvious coverages such as Building/Property Insurance and Liability Insurance, as well as some more specific policies like Directors and Officers Insurance and […]
Understanding Insurance Defense for Community Associations
Lawsuits against condominium, homeowner (HOA), and townhome community associations can be complex, costly, and time-consuming. For volunteer board members, receiving legal notices can also be an intimidating and stressful experience. Read the article…………………………….
Elevated Buildings: Educating Clients on What’s Covered and What’s Not
A very active 2024 hurricane season produced 18 named storms, with five of these becoming major hurricanes: Beryl, Helene, Kirk, Milton, and Rafael. Helene and Milton, two of the most recent storms, brought strong winds and high storm surge to the west coast of Florida, as well as tornadoes throughout the southern part of the […]
Is Now the Time for an Insurance Audit?
As Colorado associations continue to struggle with exponentially increasing insurance premiums and wind/hail deductibles, boards and community managers alike struggle to find ways to ease the financial struggle. Whether the relief comes through document amendments pushing more insurance obligations onto the owners, or continuing to increase deductibles, the relief is oftentimes short-lived. Read the article…………………………….
Addressing the HOA Insurance Crisis, Enhancing Risk Management & Governance (CA)
Property damage in the wake of high-profile wildfires, storms and floods exacerbated by climate change have permanently disrupted insurance carriers’ existing risk model assessments. Many homeowners associations in America are facing an insurance crisis, with carriers raising premiums to exhorbitant levels, cancelling coverage or pulling out of states altogether.1 Those finding themselves unable to afford […]
D&O the Right Thing
Homeowner associations rely on members to volunteer time, talent and energy. They do this for no pay however there is still legal exposure for mistakes or errors made. Directors & Officers Liability insurance is designed to protect and defend HOA volunteers and is often included in HOA insurance packages. It also can be purchased separately. […]
Navigating the Insurance Crisis: Challenges and Solutions for Community Associations in 2025
The growing insurance crisis continues to put pressure on community associations, particularly condominiums and housing cooperatives. Across the nation, community associations are facing the real challenges of rising insurance premiums, policy cancellations, and increasing deductibles, and diminishing coverage options. The landscape has become more challenging, especially as associations strive to meet the insurance mandates set […]
Watch the Webinar: Insurance Renewals (FL)
We recently held an educational webinar featuring Paul Mack and Chad Tiernan from Assured Partners to discuss the following insurance items Watch the video………………………….
5 Tips: How to Prepare for Rising HOA Insurance Rates
Homeowners’ association (HOA) insurance serves as a safety net should something go wrong on community property. Meant to protect the association from liability if there’s an accident, injury, or damage in shared spaces, proper insurance coverage is not just a good idea—it’s necessary for safeguarding your community. Read the article…………………………….
HOA Pools: The basics of swimming pool insurance
Swimming pools are one of the most common and desirable amenities in managed communities. Your pool is an important feature for your residents that enhances their lifestyles daily, but do you have proper swimming pool coverage? As a board member, ensuring your property has adequate swimming pool coverage is your fiduciary responsibility to your association. […]
You Have More Control Over HOA Insurance Costs Than You Think!
Are rising HOA insurance premiums stressing your board? You may have more control than you realize! In this episode of HOA Insights, Kevin Davis and Robin Manougian delve into effective strategies for controlling HOA insurance costs and minimizing risks. They explore key factors, including the importance of proactive maintenance, budgeting for reserves, and understanding the […]
Insurance Professionals Adjust to Cover HOAs
In today’s challenging insurance market, agents and brokers have had to adjust to keep serving community associations effectively. Those modifications can run the gambit from substantial changes to small tweaks in perspective. Read the article…………………………….
Condominium Insurance Coverage for Hurricanes: What Florida Statute 718.111(11) Means for Unit Owners and Associations
In the wake of Tropical Storm Debbie, Hurricane Helene and Hurricane Milton, many condominium associations in Florida are making significant repairs.. Both associations and unit owners are discovering the impact of Florida Statute 718.111(11) on their insurance responsibilities. This statute, part of Florida’s Condominium Act, outlines requirements for insurance coverage and responsibilities for both the […]
Higher Insurance Costs, Lower Coverage Squeeze Co-op and Condo Boards (NY)
The blows keep coming for Logan Browne and his neighbors. As president of his condo board in Bushwick, Brooklyn, Browne watched the building’s insurance rates triple last year. Then, after the board filed two insurance claims when heavy rainfalls flooded the basement in 2020 and 2023, the insurance carrier declined to renew the policy. When […]