Many state statutes and condominium bylaws require the purchase of reasonably available property insurance which covers all direct physical risks of loss on an extended and replacement cost basis. One issue I have heard associations and their insurance agents ask:
Condominium Insurance Law
The Policyholder's Advocate®
The Condominium Insurance Law blog, published by Merlin Law Group, P.A., focuses on legal issues related to property insurance claims specifically for condominium owners and associations. It covers topics such as insurance claim processes, disputes over coverage, and challenges faced by policyholders after property damage caused by natural disasters like wildfires, hurricanes, hail, wind, and water damage. The blog also addresses the legal rights of policyholders, strategies for dealing with insurance companies, and updates on relevant insurance laws and regulations affecting condominium properties. It serves as a resource for understanding how to navigate insurance claims and recover losses effectively.
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Is Your Indiana Condominium in Compliance with the Law? Mandatory Indiana Insurance Requirements
By Marie Laur
Continuing my state-by-state review of mandatory condominium insurance requirements, this post will look at Indiana—The Hoosier State.
Condominium insurance requirements in Indiana are detailed in the Indiana Code. Section 32-25-8-9 discusses insurance and co-owners, stating in part:
Sec. 9.…
Is Your Delaware Condominium in Compliance with the Law? Mandatory Delaware Insurance Requirements
By Marie Laur
Continuing my state-by-state review of mandatory condominium insurance requirements, this post will look at Delaware—The First State.
Condominium insurance regulations are listed in Section 81-313 of the Delaware Code. The section states that since the time the first unit…
Georgia: Board of Directors Discretion to Purchase Insurance
Georgia as many other states through the years have developed better insurance codes and laws to protect and benefit insureds. An example are the changes that have occurred regarding the Board of Directors discretion to purchase insurance policies with limited…
State-by-State Condominium Subrogation Laws: Florida
Making the proper insurance claim to recover damages to your condominium unit following a loss can be a daunting task. The first step to recovery is determining the origin and extent of the damage. Knowing the source of the damage…
Is Your New Jersey Condominium in Compliance with the Law? Mandatory New Jersey Insurance Requirements
By Marie Laur
The New Jersey legislature created the Condominium Act to set out guidelines that condominiums must follow. Title 46 of the New Jersey Statutes addresses property specifically, and section 46:8B-14 addresses the responsibilities of the condominium association.
Section 46:8B-14 states:
14.…
Colorado’s Property Insurance Requirements for Common Interest Communities
Similar to most states, Colorado sets forth minimum requirements of insurance for common interest communities under the Colorado Common Interest Ownership Act.
Section 38-33.3-313(1)(a) of the Act requires that the association maintain property insurance on the common elements equal to…
Determining Whether the Insurance Company’s Estimate is Fair and Accurate
By Iris Kuhn
Following a major loss event, like a hurricane, insurance companies usually receive a higher volume of reported claims. When an insurance company is overwhelmed with the number of claims, the loss event is remotely located, or specialized knowledge is required,…
Puerto Rico: Liability of Unit Owners When Damages Extend to Common Areas of Condominium vs Subrogation Clauses
When damages occur in condominiums a frequent dispute is how to determine if damages will be covered under the unit owner’s insurance policy or under the Board’s insurance policy for damages in common areas of the condominium. For example, in…
Is Your Arkansas Condominium in Compliance with The Law? Mandatory Arkansas Insurance Requirements
By Marie Laur
Continuing my state-by-state review of mandatory condominium insurance requirements, this post will look at Arkansas—The Natural State.
The Horizontal Property Act under the Arkansas Code discusses insurance as it relates to real property. Section 18-13-117 states:
The co-owners may,…