How to Choose the Best Condo Association Insurance for Your Community (FL)

Condo insurance can be one of the most important yet confusing aspects of managing your Tampa-based condo association. It can be time-consuming and frustrating to ensure all your association’s needs are met, and a policy is chosen that both provides sufficient coverage and remains within budget.   Read the article………………………..

The High Cost of Terrible Service at your HOA or Condo

Have you ever been disappointed with the quality or service of something you have paid for? You aren’t likely to spend your money on that item again. Whether it was poor quality or poor service that caused your disappointment really doesn’t matter. The same is true for your Homeowners Association or condominium.   Read the article………………………..

2020 Could Make 2021 the Year of Insurance Agency E&O Lawsuits

Insurance agents and brokers should prepare for a big agency errors and omissions (E&O) litigation wave to crash their shores in 2021.  Agency E&O claims are a lagging indicator, meaning plaintiffs typically only go after agents and brokers after they exhaust other legal avenues—most often suing insurers—and come up short, according to experts at the […]

HO-3 vs HO-6: Do You Know What Type of Homeowners Insurance You Need?

If you are a homeowner in a community association, whether single family, condominium, or townhome, are you certain you have the correct form of insurance?  When you own a home in an association, you may be told somewhere along the line that the association is providing insurance. This is probably true. However, as a homeowner, […]

How to get results from insurance carriers (FL)

Q: Our condominium sustained significant damage from Hurricane Irma. It has been a year and our insurance carrier is offering a settlement that is woefully inadequate to address our damages. We have been advised that we have window damage and the roofs must be replaced. The insurance carrier is ignoring our demands. What do we […]

4 Ways Ignoring Experts Are Detrimental to HOA Boards

We’re thinking that failing to seek experts’ opinions before the Board issues its decisions (attorneys, CPAs, landscapers) could prove quite the bad idea. Read on for examples in which doing so would inure to the HOA’s detriment — and to the Board members personally.   Read the article……………..

When To Call In The Professionals To Advise Your Board

Common areas of a community are vitally important. Not only do they ensure a better quality of life for residents, they also help the resale value of properties. So it makes sense that two of the most important duties of any community’s volunteer board of directors are to manage the affairs of the association and […]

Filing Insurance Claims: Choosing Wisely Can Save Money

Boards and associations, just like individuals, carry insurance coverage to protect them from liability, loss and other financial and legal problems, although the issues may be a little different than the typical auto or single-family homeowners’ insurance. But deciding when, and if, to file a claim versus paying out of pocket can be conundrum.   Read […]

Insuring Winter’s Woes: Dealing with the Problems of Ice Dams

The birds are chirping, the trees are plush and green, and the beaches are lined with people. The record-breaking winter of only a few months ago, when inch after inch of snow piled up in New England, causing trouble for roads, businesses, and private homes—it’s hard to believe it ever happened. Summer months can offer […]

Insurance Complexities Create Challenges and Liability Risks for Condo Boards and Managers

“My condo community is insured for full replacement value,” the board’s president announced confidently. “Our manager assures us,” he added, “that we have all coverage we need.” I hear these confident assertions often, and they make me shudder. Many condo associations have learned through painful experience that their full replacement policy may not fully cover […]

Does Your NC Property Owners Association Need Workers’ Compensation Insurance? Yes!

The North Carolina Workers’ Compensation Act (“Act”) requires all employers with three or more employees to carry workers’ compensation insurance. The purpose of this requirement is to ensure that employees injured by an accident while working have a safety net to cover lost wages and medical expenses.   The Act, however, has a very technical definition […]

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……..

7 Common Mistakes Made By Agents

As anyone that specializes in associations can tell you, condominium and homeowners associations have many unique issues. The same is true for the insurance they require. These associations are not like any other commercial entity in many ways. It takes an expert in this type of insurance      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…….