Do you know for a FACT that your condominium association or HOA has all of the insurance the law requires you to have? Learn about the insurance coverage your condo or HOA should get in less than a minute.
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It has been said that insurance is the only product that both the seller and buyer hope is never used. That certainly rings true when it comes to community Associations’ insurance policies, but it does not diminish the need for Associations to protect themselves and their unit owners from an ever-widening array of damages they could suffer. Wis. Stat. § 703.17 requires Condominium Associations to obtain insurance against potential hazards, but only discusses scope by saying that the Association must acquire insurance “for not less than full replacement value of the property insured against.”
Continue Reading It’s Never Too Late to Ensure Your Association is Properly Insured