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5 minutes could get you up to $2M in life insurance coverage ... strain of a special assessment. A condo board may allow it to be paid over several months in installments, giving residents time to ...
However, your policy’s loss assessment coverage, if you have it, may protect you from out-of-pocket costs if a loss exceeds your HOA’s master policy limit. HOA insurance vs. condo insurance
The cost increases for commercial condo association policies, what coverage associations rely on for shared structures, including the roof. ... long-term special assessments and is the biggest ...
Special assessments often require a homeowner-vote if the amount exceeds a prescribed limit established in the association's by-laws. In California, for example, a special assessment can be imposed by a board, without a membership vote, only when the total assessment is five percent or less of the association's annual budget. Therefore, in the ...
Some condo owners facing whopping special assessment fees may have no option but to sell their unit — especially retirees on fixed incomes, or younger Americans who used all their savings to buy ...
Progressive says that standard condo insurance policies generally provide a certain level of loss assessment coverage. But depending on your policy, it may not be enough to cover the cost of a ...
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