C.D. from Broward County, Florida writes: Dear Mister Condo, We are replacing an AC unit with a licensed and insured company and our board wants this insurance certificate to show the building name as lien holder. Our HOA docs clearly state that the resident/not the association is solely responsible for any damage if caused by…
Search Results for: insurance
Homeowners Insurance versus Condo Master Policy
V.S. from Miami, Florida writes: Dear Mister Condo, I have a mortgage on this condo. It’s free-standing not connected to another condo. Our declarations clearly state anything that breaks inside the condo is my responsibility. Had a pipe break in the bathroom upstairs lot of damage. Called my mortgage company they said I had no…
Condo Owner Questions Potential Insurance Cost Inequity
F.D. from Dare County, North Carolina writes: Dear Mister Condo, Our HOA has 5 buildings (all duplexes). Each building has a 2 BR and a 3 BR unit. The 3 BR is larger in size and has a higher tax value. Our association pays insurance on the buildings and the cost is assessed equally among…
What is a Reasonable Deductible for Condo Insurance?
D.S. from Connecticut writes: Dear Mister Condo, What is considered a “reasonable deductible” on condo insurance in Connecticut? Mister Condo replies: D.S., don’t you just love vague terms in association governance documents? Truly, what is reasonable to one person may be completely unreasonable to another. In this case, “reasonable” is left to the Board’s discretion….