How can you force the HOA board to have proper insurance coverage for the association? Florida statutes demand that rebuilds must be done up to the current code. Most of the HOA's do not have building and law enforcement policy (BLE) coverage that guarantees all rebuilt costs. Hiding behind Florida condo guidelines 718, which do not demand BLE coverage, our HOA board directors have taken the decision that it is better saving some money short term with cheaper insurance (limited coverage), while taking the risk to total loss, not being able to rebuild in case of damage like fire, hurricane. For HOA's with units older than 10 years, rebuilding to the cost of rebuilding to the code vs the value covered by insurance without BLE is quite substantial (approx. 50% gap). The HOA Board decision to expose all unit members to the risk of total loss as result of not having the funds to rebuilt to the code, is a reckless and willful misconduct in my opinion. How can I force the Board to take the right decision and hire the proper insurance coverage, which seems to include building and law enforcement policy these days in Florida?
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