You know that your association needs to have insurance. This is particularly the case for condo buildings, where your insurance covers the exterior structure and part of the interior, whilst the owners’ insurance covers the interior of their unit.  However, a lot of condo associations do not know that they need to have insurance for replacement cost, not what the building might have been worth a few years ago. Although some states do allow associations to insure for actual cash value, others do not.   Read the article…………………………