Should Condo/HOA Board Tell Homeowners They’re Underinsured? [HOAleader.com Video]
HOAleader.com - Tip of the Week - November 24, 2023
In this week's tip, we discuss the risks of boards getting too involved in homeowners' insurance decisions.
Our reader asks: "Can the association require members to share a copy of their HO6 insurance with the board? We've found that some members are underinsured, some of them grossly underinsured. This isn't only a devastating situation for the homeowner but also a problem with the association."
Click on the arrow below to hear a short clip in which two of HOAleader.com's experts— Melissa Garcia, a shareholder at Altitude Community Law PC in Lakewood, Colo., who provides advice and counsel to Colorado associations in all areas of community association law, and Kayleigh Long, a member with Hirzel Law in Farmington, Mich., which
represents hundreds of community associations throughout Michigan—explain why boards in their states do wade into homeowners' insurance coverage.
