Love the way you branded your AR blog to coordinate with your Condo Blog, but I miss your smiling face

About the “same company”, that is harder to do these days than it was a few years back. In smaller complexes when there are insurance claims like unit 201 leaked into unit 101, the HOA insurer says it is the condo owner’s inusurance company’s problem because it was “owner negligence”. Condo Owner’s Policy says it is the HOA policy. Back and forth. The one time they were both Farmer’s…no arguments

Downtown Condos wouldn’t have that, but some smaller garden aparment or short strip townhome complexes, may offer that option.

So many companies have dropped insuring HOA’s that it is becoming more rare to find a complex insured, by the same company that a unit owner can use.

But I agree, Ben. Not likely you’d ever find that in a Downtown Seattle condo development. Next time I see one, I’ll come back and post it.

One of the additional coverages a condo-owners policy provides is Special Assessment coverage (which might be what you’re referring to as supplement). Many policies provide limited coverage amount, but generally policyholders can increase coverage to $50,000 via an endorsement. This coverage covers assessments imposed by the association.

Reba – Other important coverages included in renters and condo-owner policies is personal liability and medical payments to others. If someone is injured on your property, you’ll likely be liable for damages. Personal liability covers other situations as well.

It’s always best to review your insurance needs with your agent periodically.

(an Insurance Underwriter in another life)

Many HOA’s are holding down monthly fees by increasing the “per incident” deductible,sometimes up to $10,000 per incident. So if you own a condo, don’t ask for “renter’s insurance” to cover only your belongings. Get the DEC Page from the Resale Certificate and supplement the deficiencies in the Master Policy, with your own policy.

Often best to use the same insurer as the HOA, if and when you can. This way if you have a claim, they can’t pass the buck, cause the buck stops with them. No finger pointing aruging if it is your policy that covers it, or the HOA policy that covers it. If they are one in the same carrier, no sense pointing to “the other policy”.