Understanding the scope of association insurance coverage is basic to protecting the vital interests of the owners. Do you understand what the association’s duties are when a fire, windstorm or burst pipe damages the common elements or unit interiors? The association’s insurance duties are addressed in the governing documents (sometimes called CC&Rs – Covenants, Conditions & Restrict... read more

The past few years have seen association insurance premiums rise dramatically. Whereas deductibles on association policies were typically $1,000 not many years ago, today it is more common for associations to have $2,500, $5,000 or even $10,000 deductibles. As insurance deductibles continue to increase, associations are reviewing how to allocate those deductibles. Insurance professionals note that... read more

Since 1900, according to the California Earthquake Authority (CEA), earthquakes have stricken 39 states and have caused damage in all 50 states, with 5,000 quakes felt each year. On April 18, 1906, the infamous earthquake and fire that devastated San Francisco was deemed one of the worst natural disasters in the United States. “It produced insured losses of $235 million at the time, equivalent t... read more