Quite recently, two of the largest residential property insurance companies announced major cutbacks in California, and many HOAs are now experiencing skyrocketing property insurance rates. Here are some tips to simplify your property insurance with a “bare walls” approach.
More than 90% of respondents in a recent survey conducted by the Foundation for Community Association Research reported that their property and casualty insurance premium had increased at the last or current renewal with 24% citing an increase between $101 and $500, and 14% citing a larger increase. Eleven percent of respondents indicated that their property and casualty coverage was canceled or not renewed.
