Tag Archives: risk

Understanding Homeowner Association Insurance

MASTER POLICY
State laws pertaining to condominiums and most project legal documents creating condominiums require the association to carry a master insurance policy covering the entire project including the individual units.  This is the only approach to insurance that makes any sense in a high rise project, and in most lateral projects it also makes sense because of the interrelationship of individual condominium units and the project’s common areas.  In planned unit developments, the advisability of having a master policy depends to some extent on the type of construction.  With attached townhouses or row houses, it is possible that a master policy is preferable to individual policies covering each dwelling. 

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CA: Who’s moving in next door?

In a once tight-knit neighborhood people are now divided by the proposal. Allow their old neighbor to house developmentally disabled people or risk friendship and family in the name of personal safety.

Authors: Community Associations Network National

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