Effective management means inspecting the building and making sure there are no health or safety risks including defects that will cause premises liability exposure,  frequent physical presence to spot premises liability risks that arise and quickly eliminate them, good communication skills, treat tenants fairly and with respect and exceed implied warranty of habitability standards, understand fair housing laws, use contracts clearly define scopes and responsibilities and  shift liability,  hire licensed and insured vendors and where appropriate obtain endorsement naming the property owner as additional insured, understand the local licensing and permitting requirements for building  improvements and renting real estate and make sure they are followed,  carry the appropriate insurance coverage and avoid conduct that would be listed as an exclusion (normally following through on everything above covers this). 

If there are changes to be made to a policy, an endorsement may be issued.

The ways around this are usually: (1) switch from replacement cost to actual cash value (ACV) or functional replacement cost, so the insured value better matches the real economic value, and (2) use an agreed value/stated amount endorsement so the company agrees up front to a lower limit without hitting you with a coinsurance penalty.

I have NEVER dealt with a contractor this unprofessional, unreliable, or deceptive.And don’t trust the old Key Glee endorsements you see online.

They understand hard money requirements.Draw schedules, lender endorsements, wiring instructions, a rookie title company will fumble this and push closings back.5.

They should have gotten an endorsement or policy modification to reflect the updated value of the property.

Just another Celebrity endorsement deal. 

And for the companies that endorse WealthAbility, I would think twice about putting your stamp of approval on such a sleazy sham of a business.

If you hire a snow-removal vendor, you can use a contract with an indemnification provision and pair it with an endorsement under their CGL policy which adds you as additional insured to their policy (not the same as merely receiving an insurance certificate as a certificate holder).

If the HOA was prudent in hiring this vendor, the HOA should have collected an insurance certificate and CGL endorsement listing the HOA as additional insured and the service contract should contain an indemnification provision in the contract that should cover HOA members property.