Two Webster County condominium unit owners are suing Nationwide, alleging breach of contract by refusing to pay coverage claims under an insured policy. Wilma Sue Talbott and William Talbott filed a complaint March 22 in Webster Circuit Court against Nationwide Insurance Company of America, alleging failure to honor a written contract by refusing to pay […]
Dogs Take a Huge Bite of Homeowner Liability Claims
Dog bites man, man sues board. Are you adequately insured? “My dog doesn’t bite.” Don’t believe those four innocent words. Dog bites and other dog-related injuries accounted for more than one-third of all homeowners liability claims paid out in 2016 – a staggering $600 million – according to the New York-based Insurance Information Institute (I.I.I.) […]
Dealing With Ice is Anything But Neat
Those of us in the Northwest were recently hit with the first round of winter snowstorms. My children are avid weather watchers (in hopes of future school closures), so I understand that we are in store for several more storms in the coming months. Winter snow and ice inevitably result in a host of insurance […]
5 Actions an HOA Board Should Take to Clarify Maintenance & Insurance
One common subject that often causes confusion in a homeowners association is grasping the difference between the maintenance responsibilities of an association and the items that are covered by the association’s insurance policy. Often owners and even HOA board members may not understand the differences between these two subjects. Read the article…………..
Don’t be confused when it comes to condo insurance
Condominium insurance is often misunderstood, and for good reason. Typically, owners are protected under two insurance policies: a master policy for the condo association and an individual, or HO-6, policy. The confusion arises over what each policy covers and the potential for gaps — or a lack of coverage — for certain, often costly, occurrences. […]
Do You Know the Limits of Your Homeowners Association’s Insurance?
If you’re a member of an HOA board, you probably know that having insurance for your homeowners association is a necessity to protect the HOA and its members. But do you know what type of insurance you need to have or what the Association is responsible for and what the individual homeowner is responsible for? […]
Homesharing and Insurance: What Your Board Should Know
In the tri-state area, where even the most profligate among us may shed a tear or two at hotel room prices, the homesharing trend has grown by leaps and bounds, with more co-op and condo owners than ever renting out their units to short-stay vacationers—and pocketing more than a few extra bucks in the process. […]
Homesharing and Insurance: What Your Board Should Know
Long before Airbnb became a household word, attorney Frank Flynn was dealing with condominium owners who thought that turning their units into a bed and breakfast was a great idea. “It’s a terrible idea. You get all these people coming and going, wandering into the building,” says the managing partner of the Boston-based Flynn Law […]
Understanding Your Coverage
Sometimes insurance and the terms that accompany it can feel like a completely foreign language. It can be mystifying and overwhelming, whether for individual condo residents or the board members who oversee the community as a whole. Read the article……….
Are You Carrying Enough Loss Assessment Coverage?
I was recently told a story about a condominium association that is carrying property insurance coverage on their condominium units which includes a $50,000 per unit deductible on water related losses! Evidently, this association has also adopted a policy which passes along the responsibility for the deductible to the owners of the units which were […]
Have The Right Condo Insurance?
As a condo owner, you receive some level of insurance coverage through the condominium complex’s master policy, which covers damage to the building’s common areas and liability claims for accidents that occur in those areas. But there can be significant variations in what master policies cover from one complex to the next. Read more………
The basics of insurance for condos
Your condo is more than a roof over your head: It’s your home. So make sure you understand the insurance requirements and coverage options for your unit. Read more……….
What’s the Worst That Can Happen in a Water Leak Situation in Your HOA?
Sorry to upset your holiday cheer but I had another call today from someone who was outraged that they had to relocate while work was being done on their unit – and that they could not get reimbursement from their HOA for relocation costs. Read more………
Have The Right Condo Insurance?
As a condo owner, you receive some level of insurance coverage through the condominium complex’s master policy, which covers damage to the building’s common areas and liability claims for accidents that occur in those areas. But there can be significant variations in what master policies cover from one complex to the next. Read more………
The basics of condo insurance
Your condo is more than a roof over your head: It’s your home. So make sure you understand the insurance requirements and coverage options for your unit. Read more………
The ABC’s of Insuring Your Co-op or Condo – Common Terms and Options for Insurance
Sometimes insurance and the terms that accompany it can feel like a completely foreign language. It can be mystifying and overwhelming, whether for individual co-op or condo residents or the board members who oversee the community as a whole. The insurance industry uses a tremendous amount of shorthand, and the degree of coverage has seemingly […]
Have The Right Condo Insurance?
As a condo owner, you receive some level of insurance coverage through the condominium complex’s master policy, which covers damage to the building’s common areas and liability claims for accidents that occur in those areas. But there can be significant variations in what master policies cover from one complex to the next. Read more………
Have The Right Condo Insurance?
As a condo owner, you receive some level of insurance coverage through the condominium complex’s master policy, which covers damage to the building’s common areas and liability claims for accidents that occur in those areas. But there can be significant variations in what master policies cover from one complex to the next. Read more……….
Community Association Boards Need to Know and Understand the Exclusions and Requirements in their Association Insurance Policies
Community associations maintain a number of different types of insurance policies to cover various risks, including physical damage, bodily injury, and employee or director dishonesty. Association boards typically rely on their insurance agents to help them shop the major insurance carriers for the most competitive premiums and coverage. Read more……..
Navigating Insurance as a Condo Owner
Many people opt to purchase condos instead of a traditional home with a yard. In some crowded cities, the lower cost of a condo is a primary motivating factor, but for many condo-dwellers, the reduction in responsibilities is the real driving force behind condo living. However, even without lawns to mow, pools to clean or […]
A Message from CAI Government & Public Affairs (re: Flood Insurance)
Today, January 8, the U.S. Senate is voting to invoke cloture (a.k.a. bring the debate to an end) on S. 1846, the Homeowner Flood Insurance Affordability Act (HFIA). If cloture is invoked, the Senate will proceed to debate and a vote on passing HFIA. Please contact your Senators today urging support of invoking cloture and […]
Mind the Gap: Understanding Your Insurance Responsibilities
Insurance is designed to be there for us when we need it most. Without knowing the full extent of our coverage, though, we may find ourselves with less protection than we thought. For condominium owners, it is imperative to understand exactly what liabilities and risks are covered by individual resident homeowner policies and what is […]
Condominium Unit Owners Not Strictly Liable for Damage Originating from Their Unit in Ohio
In condominium associations, where individual owners share a common interest in property and are often within close proximity to each other, it is not uncommon for disputes to arise between individual owners. Resolution of these disputes often turns on how the property relationships are defined by condominium association documents and bylaws, as well as state […]
Understanding Legal Liability for Condominium Association and Unit Owners
Legal liability is liability imposed by the courts or by statute on any person or entity responsible for the financial injury or damage suffered by another person, group, or entity. Legal obligations, or legal liability, can arise from intentional acts, unintentional acts, or contracts. When the potentially liable parties are mutual beneficiaries and users/occupiers of […]
Recent Case Holds That Condominium Association Could Owe A Duty of Care to Unit Owners to Maintain Pipes In the Interior Boundary Walls of Units
In a recent case, the Florida Fourth District Court of Appeal analyzed a condominium association’s declaration documents to determine whether the association owed a duty to maintain the pipes located within interior walls of the condominium. While the subject of the case is a negligence action by the unit owner against the association, the case […]
So You Have an Insurance Claim?
Do the words, “my ceiling’s collapsed” and “water is pouring in” strike fear into your heart? Does the thought of dialing the insurance claim hotline for yet another claim give you a sinking feeling? Well, fear not. Take it from a condo manager who has been through that Read more……..
HOA Insurance Glossary
Cost of replacing damaged or destroyed property with comparable new property, minus depreciation and obsolescence. For example, a 10-year-old sofa will not be replaced at current full value because of a decade of depreciation Read more…….