If your homeowner association enters into an agreement with a third party contractor to do some sort of work on the association property, it’s very likely that the association is responsible for any damage that happens as well as the third party contractor. Since they are both essentially part of the reason why the damage … Continue reading “My HOA Uses Third-Party Contractors. Who is Responsible for Damages?”

DP3 refers to insurance policies that are provided to owners that rent their property. The HO3 policy is for owners that are actually living at their property. It’s important because your insurance company will provide different coverages depending on the situation at the property. If it’s rented, or if you’re living there as the owner. … Continue reading “DP3 or HO3? Why Does It Matter?”

As a unit owner, if you are renting your property as a vacation rental, and you have people staying there for short periods of time over VRBO or AirBNB you still want to have your own insurance in place. The insurance offered by these companies may not cover every situation that’s involved in renting out … Continue reading “Should I Rely on the Rental Agency’s Insurance?”

If you’re renting out your condominium unit and the tenant has a situation where there’s a theft on the property. Most likely, any personal items of the tenant within your unit may not necessarily be covered under your policy that you may have since the unit is being rented. That’s why it’s important for you … Continue reading “The Tenant in My Condo was Robbed. Who is Responsible?”

If you’re renting out your condominium unit and the tenant is injured, it’s most likely the tenant is going to point the finger at you, as the unit owner. Whether it’s your responsibility 100% or not, you want to make sure you have liability insurance as the unit owner to protect you in these situations … Continue reading “I Rent Out My Condo and the Tenant was Injured. Who is Responsible?”

If you’re renting out your condominium unit, you want to make sure that your insurance agent is aware, because there are different types of policies, depending on the status of the unit. If you’re living thereas the unit owner, you may have a unit owner’s policy. Now, if you’re renting it out, you may have … Continue reading “I Rent Out My Condo. What Insurance Should I Have?”

I highly recommend that if you are renting out your condominium unit, that you insist on the renters having renters’ insurance. If the renters have a situation where there’s some sort of property damage, at least their property will be covered because there’s no guarantee that you, as the unit owner, your insurance will necessarily … Continue reading “I Rent Out My Condo. Should the Tenant Have Their Own Insurance?”

If your condo is broken into, and properties stolen. It could be a question of negligent security on behalf of the association. Let’s say you live in a condominium association where to get in the building you have to put in a code or a guard in the front of the building. And the person … Continue reading “My Condo was Robbed. Whose Insurance is Responsible?”

Even though you may own your condominium unit outright, I highly recommend that you have insurance. Not having insurance could really put you in a bad situation if you have some sort of a leak in your unit from the water heater or plumbing, or it could be a unit above you, or it’s the … Continue reading “I Own My Condo. Do I Need Insurance?”