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 home…
Property insurance, by definition, is a guarantee of compensation for a specific loss or damage to physical property or equipment. Within that broad and simplified explanation there is room for multiple interpretations—and more than enough…
In the tri-state area, where even the most profligate among us may shed a tear or two at hotel room prices, the homesharing trend has grown by leaps and bounds, with more association and unit owners than ever renting out their units to sho…
From equipment failure and personal injuries to tornadoes and tropical storms, disasters happen. Any community association worth its salt knows that it needs to be prepared for a rainy day. A great chunk of that preparation is insurance. …
Protection against embezzlement, fraud, theft, computer crime, forgery and more are just the tip of the iceberg when it comes to crimes at community associations across the United States. During challenging economic times, crime goes up an…
Say you’re in bed, and you hear what sounds like the shower going. It's late, and you're tired, so you pay it no mind. You wake up at 4 a.m. to get a glass of water and find half the rooms in your apartment flooded— you forgot to turn the …
Individuals, associations and other entities carry insurance coverage to protect them from liability, loss, and other financial and legal threats—that's pretty basic. What isn't always so basic is deciding when to file a claim versus payin…
Sometimes insurance and the terms that accompany it can feel like a completely foreign language. It can be mystifying and overwhelming, whether for individual condo residents or the board members who oversee the community as a whole. The i…
All professional contractors and service providers are required by law to carry insurance to cover their activities. All condo buildings and associations should also carry their own insurance to cover accidents or other incidents on the…
When you decide to run for a board, you’re usually thinking about all the great changes you’re going to make to your building community, along with all the time and effort that you’re prepared to sacrifice for the good of your home. …