Category Archives: Insurance

Fault Line

DisastersNatural disaster insurance can mean costly premiums and steep deductibles for associations. In California, some communities are asking: Is earthquake coverage an exorbitant luxury or complete necessity? Earthquake-prone California experiences about 10,000 small-to moderate-sized tremors annually. A study released earlier this year by the U.S. Geological Survey found...
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CONDOMINIUM INSURANCE – WHO COVERS WHAT?

Most condominium association’s “Declaration of the Condominium” (hereinafter referred to as declaration) follow the wording of Chapter 47C of the North Carolina Condominium Act with regard to the definitions of “common elements” and “units”.  The Declaration specifies what insurance is to be provided by the association and what insurance is to be provided by the unit owners.In the statute, 47C-2-102, Unit boundaries it says: “Except as provided by the declaration:

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