Sky-High Condo Association Insurance Rates Upend Lives, Rattle Industries

condo association insurance rates

Sweeping Increases Overwhelm Condo Associations and Owners In a dramatic turn of events that’s sending shockwaves through homeowner communities, insurance rates for condo associations have surged drastically. Across the nation, residents and HOA’s are overwhelmed with increases ranging from 50% to over 500%, with states like Hawaii and Florida facing staggering hikes due to their vulnerability to hurricanes. Financial Shock Hits Retirees Hard The cost of property insurance, the most significant expense for Hawaiian Homeowners Associations, has seen a dramatic rise. For instance, a 400-unit project that previously had an…

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Trip cancellation insurance purchased in 95 percent of 2021 travel policies

Trip cancellation insurance - woman traveler

A recent Squaremouth.com analysis showed that nearly all travelers buying coverage include that option. The COVID-19 pandemic crisis has had an astounding impact on the travel industry, including the trend toward purchasing trip cancellation insurance. Following the global lockdowns, purchased travel policies now nearly always include options to cancel. The analysis was conducted by Squaremouth.com. That firm reported that among all the travel policies it has sold for 2021, about 95 percent include trip cancellation insurance. “Trip cancellation has always been the primary driver of travel insurance purchases,” said Megan…

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