All Forum Posts by: Tim K.

Possible that insurance has gone significantly up for homes in wooded area? I am also seeing spike in mountain homes here in Colorado. Insurance has doubled since 2015. It is going up 30% for 2026 for the mountain towns. Insurance company excuse - wild fire!!

I own a townhome that's part of a six-unit building (five other townhomes are attached and I am in corner unit). Each of us has our own homeowners insurance policy for both interior and exterior coverage. There's a party wall agreement in place, and our HOA is very limited—they don't carry any master insurance policy and only handle trash and some parking enforcement.

Here’s my concern:
What happens if my tenant accidentally leaves a candle burning and it causes a fire that damages my unit and a few of the neighboring units? Each unit is worth about $600K.

Would the other homeowners' insurance companies try to subrogate and come after me or my insurance? What level of liability insurance should I carry to make sure I’m adequately protected—not just for the structure but also for any potential legal exposure? I am looking at worst case scenario. This is my first time investing in to real estate.

Looking for advice on how to structure coverage properly and minimize personal risk.