As the president of an HOA or homeowner’s association, cyber criminals are the last thing on your mind. Who would hack an HOA? What information would they take? Well, if your HOA requires members to pay dues and fill out and sign application forms, there’s actually quite a bit of private info available for hackers […]
Along with the rising cost of everything else, deductibles for homeowner’s associations and condo associations have gone up exponentially. This is based on a number of things, ranging from the rise in claims due to weather-related events, as well as the overall worth of the properties within the HOA. Since the deductibles are paid for […]
Water damage can be one of your worst nightmares. Mitigating it involves removing and repairing the source of the water, cleaning up the damage that the flood left behind, and dealing with mold remediation and other things. All of these can add up to a very expensive fix. Then there’s the dreaded question: Will your […]
Pool season is upon us. If you own a condo, HOA, or apartment building, you’ve no doubt fielded requests about opening the pool. These pools and the spaces around them are where tenants and homeowners go to relax, spend some time in the water, and socialize with their neighbors. Unfortunately, community pools have some downsides, […]
Springtime brings bright flowers, warm sunshine, and beautiful blooming trees. But it also brings rain, which can damage the structure of your condos, HOA buildings, and apartment complexes if your gutters aren’t working properly. Before the rainy season hits, it’s important to make sure to conduct some spring maintenance on your building lest you end […]
When a condo or HOA unit burns down, is hit by a vicious windstorm, or anything else occurs resulting in a covered insurance loss, there are obviously some expenses to consider. One of them is the price of a new building or condo unit that meets updated building code requirements. Although older buildings can be […]
Key Takeaways Confirm your master policy limits reflect current replacement costs for buildings, amenities, and shared infrastructure. Eliminate confusion by clearly defining what the HOA covers vs. what unit owners must insure. Verify D&O coverage and vendor COIs to reduce the risk of costly lawsuits and uninsured vendor losses. Reassess specialty coverage needs (flood, earthquake, […]
