Category: Condo Insurance

In today’s challenging housing market, a condo often presents a more affordable option. For those uninterested in yard work, condos provide a means of homeownership without the hassle. We are independent agents at Birmingham Insurance Agency LLC in Birmingham, AL. Our role is tailoring insurance solutions that align with our customers’ individual needs.

Property

Property insurance provides coverage for the building itself and the items affixed to the walls. It’s important to determine whether your condo association master policy is an “all-in” or a “bare walls-in.” These terms describe the extent of coverage. An “all-in” policy covers everything, barring your personal possessions. With “bare walls,” however, nothing inside your condo is covered. This means elements like electricity and plumbing may also lack coverage.

Content

Content insurance covers all personal possessions such as clothes, furniture, jewelry, electronics, and any items not covered under property coverage. You may opt for coverage based on current values or replacement costs. This type of coverage has limits under certain categories, so for additional coverage, you may require an endorsement.

Liability

As a condo owner, you are held responsible for liability coverage within your unit. The condo association master policy extends liability coverage to common areas and the building’s exterior.

Loss of use

If a covered peril causes severe damage to your condo, rendering it uninhabitable, “loss of use” coverage comes to the rescue. Without this coverage, you would have to bear the costs of relocating until your condo receives a certificate of occupancy. This period could range from a few days to several months. Hence, this coverage proves extremely valuable during such challenging times.

Based in Birmingham, AL, Birmingham Insurance Agency LLC is at your service to help you secure the condo coverage that best suits your needs.

Due to the strict oversight and governing rules typically enforced by a homeowner’s association (HOA) for condos, disputes between tenants and owners and HOAs are fairly common.

Some top categories encountered in these disputes are:

• Discrimination
• HOA Denial of Condo Insurance Claims
• Fines & Violations
• Maintenance Failures
• Denial of Plans to Update a Unit
• Pet-Related Dispute
• Resisting Board Actions & Rules

However, there are ways to resolve these disputes to the satisfaction of both parties, many of which can avoid legal intervention.

Ways to Resolve Condo Association Disputes in Birmingham, AL

At Birmingham Insurance Agency LLC, we’ve seen a number of our customers have issues with their HOA denying claims that should fall under their master policy. Some are slow with approving or denying requests to change the unit, while others feel they have been fined by the board unjustly. Here are some effective ways to get resolution to issues outside the courtroom setting.

• Know Your Rights as a Condo Unit Owner: You must be aware of all the rights you have as an owner or renter, as well as know the rules in the HOAs bylaws and Covenants, Conditions & Restrictions CC&Rs. This is the key to developing a strong case or coming to the realization that their decision was justifiable.
• File an Official Complaint: You can enter into negotiations by filing a formal complaint against the association and/or with state agencies governing such issues.
• Alternative Dispute Resolution: The first step is meeting up to discuss the altercation and hopefully come to a resolution that is workable for everyone.
• Mediation: A neutral third party works with the parties to discuss the complaint and possibly come to a resolution.
• Arbitration: Less formal than court, this step may be mandated by law, or certain associations before any legal action can be pursued. Arbitrators review the evidence and come to a decision that may be binding or non-binding.

Have Questions? Consult With Birmingham Insurance Agency LLC

Our experienced staff can help condo owners near Birmingham, AL better understand their HOA’s rules and provide comprehensive insurance policies to keep you covered should legal action be necessary. Contact us today to learn more.