I have been a member of the condo assocation board for the last 3 years. I find that, despite the fact that we are
spending about a thousand dollars a month for condo association insurance, neither I nor the other
association board members have near a real understanding of our condo association’s
insurance needs; risks to be protected against, potential savings vs assumption
of increased risks, etc.
We have had talks with insurance agents but are aware
that the more that we are insured against risks, the higher the premium and the
more the agent stands to gain financially. The result is that we often feel that
we have received more sales talk than information or objective advice.
What we
feel we need is an expert in condominium association master policy insurance who
does not stand to gain from our purchase of insurance and who will, for a fee,
educate and advise the board in this matter so as to enable us to make rational
decisions. We have searched for such a person and continue to do so but so far
have come up empty. Should anyone have any advice, suggestions, comments or
recommendations we will welcome and appreciate them.
