Are you having issues with navigating HOA Insurance requirements with lenders? This episode is for you!
✅ Is a Reserve Study right for you? 👉 https://www.reservestudy.com/
Navigating HOA insurance requirements can be overwhelming, especially when lenders demand full 100% replacement cost coverage. In this episode, Kevin Davis and Robert Nordlund tackle this challenge, sharing actionable insights to help community associations secure the coverage they need. Learn how inflation, climate change, and nuclear verdicts affect insurance costs and why working with experienced professionals is vital. Discover the role of state laws, governing documents, and reserve studies in meeting these requirements and protecting your HOA’s financial future!Â
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Chapters
00:00 Why Some HOAs get a 100% Replacement for Insurance & Some Others Don’tÂ
03:51 Listener Question - How to Resolve the Conflict Between a Lender's Insurance Requirements and What Their Insurance Provider Was Able to Provide?
10:23 The Role of Insurance Professionals in Meeting Lender Requirements
15:38 The Importance of Replacement Costs for LendersÂ
20:21 Ad Break - FiPhO Health ScoreÂ
20:58 Having Compliance with State Laws and Governing Documents so You Can Have Lower Insurance RatesÂ
23:52 Do You Have to Comply With Every Requirement for Insurance?Â
28:05 Getting the Right Insurance Is GOING to be ExpensiveÂ
30:21 The Importance of Working with Specialty Insurance Brokers for Your HOA
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