HOA and Condo-Related Squabbles Result in Problems with Securing Insurance

HOA and condo-related squabbles indicated by the magnitude of past litigation and claims deter insurers from offering coverage, leading to higher premiums.

Condo associations and HOAs in South Florida face disputes with allegations of election meddling, fund misappropriation, insider deals, and poor maintenance despite increased assessments. New leadership in some associations is addressing these issues, but past litigation, insurance claims, and building code violations continue to be problematic. Insurers are hesitant to provide coverage or are quoting higher premiums and deductibles. The insurance market in Florida is strained, with premiums rising after the 2021 Champlain Towers South collapse. Associations with litigious histories or structural safety issues are facing increased insurance challenges. Insurance costs have doubled or tripled for some, though overall costs are stabilizing.

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Please call Barry Frette at 561-880-5587 to discuss HOA and condo-related squabbles and how you can protect yourself from such a situation.

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