Happy New Year everyone! We hope it started off better than it did for our communications manager, Jocelyn, whose neighbor’s retaining wall crumbled after a rainstorm and attacked her parked car.
She doesn’t live in an HOA or community association, but this is a great reminder to bring up the importance of homeowners insurance. It’s the start of the New Year, a time when we are all reevaluating many things in our lives, and maybe, your homeowners policy is one of them.
First things first, the insurance your HOA or community association purchases using your member fees, almost always, only covers shared and common property maintenance and issues. Within a condo or townhome complex, the HOA insurance often covers the outside shell of the home, but that isn’t the case usually in single-family homes. So, to make sure your home is protected, make sure you have homeowners insurance too. If you rent in a community association, make sure you ask your landlord if he or she has insurance.
But, hold on there just one minute. Just when you thought you are insured, one of our favorite journalists that answers questions about HOAs for the Los Angeles Times wrote about the limits that homeowners insurance can have in an HOA. Read his article here.
If you have questions about any issues with insurance coverage in your HOA you can contact us for free with your questions.
Since we like to promote being a good neighbor and strong communities, remember to be kind to your neighbors when things like this happen. Jocelyn showed the damage to her neighbor this morning, and so far there isn’t any conflict yet, time will tell how headache free the process goes.
We wish you a year free of homeowners insurance problems!