Homeowner's Insurance Copies

Started by MichaelO4 • 1 replies • 1777 views

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MichaelO4 (Montana)
Posts: 40

Posted:

Greetings all,
The Governing Documents of our 21 free-standing unit condominium association required that all owners
provide proof of Homeowner's Insurance to the association each year. This is to protect the association
from being stuck with, say, a burned-out unit wherein the owner has no insurance to replace it.
I'm wondering if other associations have similar requirements of owners, and what problems have been
encountered obtaining this information from owners or insurance firms.
Thanks,
Mick

JohnC46 (South Carolina)
Posts: 14,265

Posted:

Michael

My association has the same requirement plus the association be named as co-payee. This is to prevent one payee (the owner) from taking the settlement and leaving the association with burned out hulk.

My insurance agent said he had never heard of such and it was not necessary. I replied stop playing lawyer and do as I ask. He did.

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