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Updated over 4 years ago on . Most recent reply

Marisa Alvarez's profile image
Marisa Alvarez's profile image
Marisa Alvarez
  • Rental Property Investor
  • from Clearwater, Florida
  • Member since Feb 5, 2015
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Marisa Alvarez's profile image
Marisa Alvarez's profile image
Marisa Alvarez
  • Rental Property Investor
  • from Clearwater, Florida
  • Member since Feb 5, 2015
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Marisa Alvarez
  • Rental Property Investor
  • Clearwater, FL
29
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112
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Off Topic

Insurance of HOAs Condos

Marisa Alvarez
  • Rental Property Investor
  • Clearwater, FL
Posted

I own condos which are part of different HOAs.

I see a lot of money goes into Insurance ( flood wind sink holes etc )

Some Small Associations around where I live (Tampa Bay - Florida ) have opted to go just with Liability Insurance and not the rest. Our Insurer says it is illegal and that we can be sued if we do so.

Is this right ?? 😳😳😳

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Jason Bott
  • #2 Insurance Contributor
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Jason Bott
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Jason Bott
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Jason Bott
#2 Insurance Contributor
  • Insurance Agent
  • Nationwide
Replied

@Marisa Alvarez 

The HOA by-laws will state the board is required to procure insurance for the HOA. If the board does not execute, then the unit owners can sue the board members for failure to perform their duties.

  • Jason Bott
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