Condo Owners Forum

"It's about community. It's about bringing people together. It's about creativity and service. It's about making the community in which we live a really good place to be." - In Miscellaneous Quotes, by Andy Stoll

Home COFSAB Forum Finances 2022 – 2023 Insurance Quotes Reply To: 2022 – 2023 Insurance Quotes

  • Neil Holatko

    December 18, 2022 at 2:24 pm

    Thank you very much Dana!

    You wrapped around all my issues, and I have a better understanding now.

    There is nuance to this that is best discussed with an insurance broker, but in general I really recommend insuring your property to the full amount listed in the appraisal even if you think the estimate is too high.

    Does this mean that a condo could not insure for the full amount?
    I didn’t even know that was an option nor do I believe it should be…
    I just imagine Owners suffering from Boards “saving a few bucks” in a full loss situation.
    A risk not worth taking.

    I appreciate the detailed response.


    Please spread the word!
Verified by MonsterInsights