Tag: condo insurance
Do Condo Associations Need Workers’ Compensation?
It’s a situation that no association wants to be in. You hire a cable company to install new antennas when a worker slips and falls through the ceiling. The worker is taken to the hospital with a broken collarbone and cannot work for the next couple months. The association assumed the contractor had workers’ compensation […]
read more »To Be or Not to Be Additionally Insured
You contract a snow removal service to make sure the walkways are clear of icy hazards when one day you get a call that a tenant has slipped and fallen by the mailbox. You could have sworn that the mailbox was included in the contract, and it was, but the contractor had a lapse in […]
read more »Terrorism Insurance for Condo Associations
As a property manager, you may feel lost or confused when it comes to insuring your properties. Things that you would never think about come up when you sit face to face with an insurance agent for the first time.
read more »How to Handle Mold and Mildew in Condos
Mold and mildew are two “m words” that no property manager wants to hear. These pesky fungi breed in areas prone to water problems, like underneath the kitchen sink. If not dealt with properly, these pests can damage the inner walls making the condo inhabitable to present and future tenants. Not to mention the numerous […]
read more »Changing Your Condo Association’s Master Policy
A part of any multi-unit condo is a condo insurance master policy. Overseen by the condo association, this policy provides general liability as well as property coverage in common areas and at the minimum “bare walls” coverage for individual units. This policy is put in place by the condo association after its founding and funded […]
read more »Improvements and Betterments for Condo Owners
One of the great things about owning a home is being able to replace things you don’t like. Condo associations and unit owners find themselves in an odd place when it comes to this. While the outside of the condo cannot be changed and is owned and insured by the Association, the interior of the […]
read more »Condo Common Areas and Responsibility
What exactly do I own? You will often find new condo owners asking this question. It’s important to be able to explain (and make sure you understand yourself) what is owned by the condo owner and what belongs to everyone (also known as common areas). Defining the common areas is an important distinction for both […]
read more »Preparing for a Condo Association Insurance Quote
As the member of a condo association, a big part of your job is making sure your insurance is sufficient for what you need. We understand that getting a quote for insurance probably isn’t the most exciting thing you will do this week. However, it might be the most important. Having enough insurance is vital […]
read more »Understanding Cross Condo Liability
A condominium can be a great place to live. The small community has a neighborhood type feel to it. It is usually considered a safe place for you or your family to spend their time. Many condos offer locked entries or even security professionals to protect the residents. Pools, fitness centers, community game nights, and […]
read more »3 Things to Help New Condo Owners Understand Their Insurance
As a condo association board member, it’s important to start off on the right foot with your new condo owners. One way to help them assimilate is by ensuring they are properly educated on the Condo’s policies. Though not the most exciting subject, it is important to thoroughly explain your insurance policy. While some new […]
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