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?”