Posts Tagged ‘#Condominiums’
California Condo Projects Continue to Face Challenges Obtaining/Renewing Insurance
Insurers in California have started declining to provide insurance or renew coverage for community associations in the state, citing significant losses resulting from natural disasters. However, this issue isn’t unique to California, as condo and HOA (homeowners’ association) insurers across the nation are becoming cautious and increasing their rates. Here’s what you should be aware…
Read MoreWhy Are There So Many Non-Warrantable Condos These Days?
The amount of condominium projects added to Fannie Mae’s ineligible list has surged in the last year by over 30%. My personal experience is that there are two large contributing factors. One, larger garden style condo projects spread out over many acres are under-insured for fire insurance. The combination of the insurance company’s replacement cost…
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