Category: Insurance

The past few years have been difficult for both the insurance industry and those it insures. Shared-interest communities like condominiums, HOAs, and co-ops have been hit particularly hard. The reasons for this include everything from incre…

One of the least understood aspects of shared-interest community ownership is how the protection provided by the condo association or HOA’s insurance policies fits with the policies held by individual residents. In short: in the event of a …

The topic of insurance can provoke fear in the most steadfast of board members. It’s both terrifying in what its purpose implies, and yet at the same time mind-numbingly boring. It’s also one of the most important components in protecting o…

Insurance is a topic that seems to evoke one of two feelings: boredom in the best of times, and dread in the worst. It’s both complicated and expensive, frustrating yet necessary, mundane yet stressful. It’s also one of the most important d…

As noted elsewhere in this edition of New England Condominium, all types of properties, including condo, HOA and co-op communities, are experiencing steep increases in their insurance premiums while coverage is being reduced. Some are seein…

Over the past few years, nearly all property owners, including shared interest communities, have seen sharp increases in their insurance premiums. That costs have spiraled and coverage gotten harder to obtain is obvious. The questions are, …

Over the past few years, operating expenses for everything from fuel to labor to the cost of cleaning supplies have been steadily rising—and disrupting co-op and condo association budgets—all over the country. The premiums for properly insu…

The topic of insurance can provoke fear in the most steadfast of board members. It’s both terrifying in what its purpose implies, and yet at the same time mind-numbingly boring. It’s also one of the most important components in protecting o…

Inflation has hit the insurance building insurance industry in a big way.  And according to a recent survey conducted by the Foundation for Community Association Research (FCAR), skyrocketing premiums are putting serious financial pre…

With inflation at historic highs, labor and supply shortages complicating even routine projects and maintenance, and budgets tight (and getting tighter), many condo and homeowner associations are looking for ways to control costs and still …