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A home insurance policy is designed to financially protect you and your home from covered perils, while HOA insurance coverage is designed to financially protect the HOA’s liability and shared ...
Your HOA fees help cover those nice-to-have features, but they also cover an essential must-have: a “master” insurance policy for the property. While individual owners will have a separate ...
In Michigan, about 1.4 million people were living in communities with homeowner associations in 2023, according to the Foundation for Community Association Research. In the U.S., about 30% of the ...
A homeowner association (or homeowners' association [HOA], sometimes referred to as a property owners' association [POA], common interest development [CID], or homeowner community) is a private, legally-incorporated organization that governs a housing community, collects dues, and sets rules for its residents. [1]
The Florida Insurance Guaranty Association board met on March 31 and filed for an emergency assessment of 1% on all Florida property insurance policies. [32] That is in addition to a 0.7% for 2022, a 1.3% assessment from July 1 2022 to June 30 2023, and another 0.7% ending December 31 2023. [32]
NAMIC is the largest property/casualty trade association in the U.S, with nearly 1,300 regional and local mutual insurance member companies serving more than 135 million auto, home, and business policyholders and writing in excess of $196 billion in annual premiums.
Condo insurance typically covers the personal property and appliances within the home but not the structure itself. Rather, the homeowner’s association (HOA) pays for insurance on the building.
Governor John Engler created the Office of Financial and Insurance Regulation as a Type I agency within the Michigan Department of Consumer and Industry Services to be headed up by a commissioner appointed to a four-year term. The Corporations, Securities and Land Development Bureau's security functions and all functions of the Insurance Bureau ...