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The proposed compromise draft of HB 2686 that failed to pass also would have limited HHRF and HPIA coverage for condo associations to five years, and prohibited coverage if a condo project has ...
“These increased premiums for condominium association insurance, which in some cases are up to 1, 000 percent higher, are passed on to the condominium owners, resulting in drastic increases in ...
As a condo owner, your insurance needs differ from those of a single-family homeowner. Understanding those differences is key to making sure that you get the maximum Condo Insurance: Four Steps to ...
Potential gaps in insurance coverage; Potential losses in already-paid insurance premiums (if contractor failed to anticipate becoming fully occupied with OCIP-insured project(s) for policy period) Uncompensated administrative costs of the contractor; Deductions from contract value based on expected savings that exceed actual insurance costs
Based in Falls Church, Virginia in the United States, the CAI has more than 60 chapters of condominium and homeowner associations [1] [2] [3] with over 45,000 members worldwide. [4] The CAI provides education and resources to help the volunteer leaders and boards that govern community associations.
The remaining 21.3% of home insurance policies were covered by renter's or condominium insurance. 14.8% of these had the HO-4 Contents Broad form, also known as renters' insurance, which covers the contents of an apartment not specifically covered in the blanket policy written for the complex. [13]
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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.