I live in a gated golf community in Naples, Florida. Just recently our street association buildings were determined to be in a flood zone. As a result my mortgage company sent a letter advising me that I have 45 days to purchase flood insurance or they will purchase it for me. I have obtained a quote and am in the process of purchasing it. There are twelve units per building and four buildings in our association. Our bylaws state that "The association shall maintain insurance covering the following: Flood Insurance: Flood Insurance if the Association so elects." Does Florida conco association mandate the association has to purchase flood insurance or is it an option for them. If I purchase flood insurance covering $110,000 for the building and $35,0000.00 for my contents and a flood does occur and the association has to pay to have the damage repaired am I exempt from any assessments that may occur from these repairs since I purchased flood insurance. Please advise David Getz

We have two different issues at two different condo buildings, but similar problems. In both instances, there were water leaks originating from the common areas which are the HOA responsibility. In both instances, interior condo units were damaged including floors, ceilings and drywall. The condo association insurance coverage for the condo states that the common area is covered by the condo insurance but the damage incurred in the units is the unit owners responsibility. We are getting significant complaints and protest from the condo owners stating it was an HOA problem that caused their damage and the HOA should pay for their repairs. Have any other HOA's experienced this problem?

Learn more about HOA Insurance