Winter is here! And with the cold temperatures, snow storms, and other winter culprits, it’s time to ensure you have adequate insurance to cover property damage that may be coming your way. Whether your community is damaged from exploding frozen pipes, or because of snow and hail storms, it’s important to understand possible pitfalls inGo to Resource
Maintenance & Insurance Resources
An association’s maintenance and insurance obligations are typically set forth in the association’s covenants. However, in many instances, simply reading the maintenance and insurance provisions of the declaration will not give boards or managers clear answers. Often times, provisions of the declaration must be cross referenced and read in conjunction, and statutes consulted, before anGo to Resource
Understanding Homeowner Association Insurance
MASTER POLICY Master policies are a form of property and liability insurance carried by associations that the members pay for as part of their assessments. Master policies typically cover common elements in a community as well as portions of units at times. State laws pertaining to condominiums and most project legal documents creating condominiums requireGo to Resource
An association’s maintenance and insurance obligations are typically set forth in its governing documents, and ideally should be contained in the declaration of covenants, conditions, and restrictions. Although one might expect that a board member, manager, or homeowner would be able to read their communities’ governing documents and find answers to questions concerning their maintenanceGo to Resource
One of the most difficult questions posed to a condominium association board is: Who is responsible for damage caused by a water leak? For example: water comes through the roof, intrudes into and damages upper condo unit #1, passes through and damages the common element walls and floors along the way, then ends up in,Go to Resource