HOA Condo Insurance Challenges

HOA condo insurance challenges stemming from the multitude of past lawsuits and claims lead to higher premiums and - in some cases - difficulty obtaining coverage.

Condo associations and HOAs in South Florida are dealing with disputes involving allegations of everything from election meddling and fund misappropriation to insider deals and poor maintenance despite higher assessments. New leadership is working to resolve these issues, but past litigation, insurance claims, and building code violations remain problematic. Insurers are reluctant to provide coverage or are only offering policies with higher premiums and deductibles. Florida's strained insurance market, exacerbated by the 2021 Champlain Towers South collapse, has seen premiums rise significantly. Associations with litigious histories or structural safety issues face additional insurance challenges, with some experiencing doubled or tripled insurance costs, though overall costs are beginning to stabilize.

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Frequently Asked Questions: FAQ

Please call Barry Frette at 561-880-5587 to discuss HOA and condo-related insurance challenges and how you can protect yourself.

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