The right insurance coverage can bring and maintain value to a condo community
As a condo association board member you are given important task and the authority to make decisions that as a result ultimately provide safety and security to a given community. You are also given the task of hiring vendors to make necessary improvements to the exterior and on common areas, or to hire a vendor for repairs or maintenance. The choices you make regardless of how minimal of importance they seem to be are aimed to provide value and a positive impact on the community.
We at JCO Insurance Group believe that the next best decision you can make in protecting your condo community is to obtain the best possible insurance coverage available. An optimal master condo insurance policy can ensure that your condo association is protected from damages caused by fires, storms or other risks. In addition, owners can also be protected from injuries caused by accidents like slip and fall in common areas.
The goal is for you to achieve a customized and cost effective insurance solution that is in the best interest of all condo unit owners.
JCO Insurance Group has extensive experience in providing optimal insurance coverage for condo communities. Regardless if its a small four unit condo, a mid sized rental to condo conversion, or a large condo complex with hundreds of units, you can contact one of our expert professionals to help you find the right insurance coverage required. We can also work with individual condo unit owners as well to meet there insurance needs.
Know what your master condo insurance policy covers
As a board member of a condo association, you may have many questions regarding what the master condo insurance policy has to cover. This is a very detailed and complex policy that needs to be reviewed by both parties, the board member and the insurance agent producing it. At JCO insurance Group, one of our expert professionals in the condo association industry will thoroughly review with you the complete master condo policy and discuss which one particular coverage your condo will fall under.
Master condo policies typically covers damages from perils to the structure of the building and common areas. For instance, a large tree or branch fell and landed on the parking lot or side walk. The Association and their insurance should be responsible in removing the tree and making repair to the parking lot or side walk. It is best to contact one of our expert Professionals regarding your particular insurance needs. However, lets discuss the two distinctive types:
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All-in policies will provide coverage for some ports of your condo unit like the plumbing, floors or electrical. For example if the pipes burst in the plumbing, the association may pay for or split the cost for the repairs.
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Bare walls policies mean they do not cover anything within the walls of your unit. Some may include plumbing, but most exclude everything with in the walls of your condo unit.
Contact one of our condo association expert professionals to review your current policy for any coverage gaps and to come up with an optimal insurance solution tailored to your specific condo association.
Let JCO Insurance Group help you find the right insurance solution. Your condo owners are counting on you
We are a local, privately owned, well established agency with excellent credentials as experts in the insurance industry. We represent high rated insurance carriers which makes us highly qualified and committed in finding you the most cost effective and best insurance policy available for your condo association. Let JCO Insurance Group help you understand and obtain the right master condo association insurance policy for optimal protection against common and uncommon perils.
Additional types of coverage are available for your consideration for those possible loss and unexpected perils or events below are a few examples:
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Directors and Officers protects you in case you are sued for actual and or alleged wrongdoing acts in managing a company
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Crime provides coverage for dishonest and or fraudulent acts of anyone handling or is responsible for funds held or administered for condo association purposes
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Equipment breakdown/boiler and machinery covers damage and loss of income caused by a mechanical breakdown of covered equipment
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Workers’ Compensation protects employees who work on the premises from the costs of work-related illnesses or injuries
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Hurricane, Wind, Storm and or Flood is an important coverage for condo association complexes located with in those areas that are possibly impacted by such events
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Excess Liability coverage or Umbrella coverage covers claims in excess of limits of your General Liability or Directors and Officers coverage
We only discussed just a few options. It is why its best that you and one of our expert professionals in the condo association insurance industry discuss and come up with a comprehensive plan to ensure the condo association, board members and unit owners are covered and no gaps are left exposed to unwanted perils. JCO Insurance Group is available to go over and assess your current master policy coverage to maintain or make necessary adjustments if any changes are needed.