Reader: Some neighboring associations are reporting ten-fold increases in fire insurance premiums due to brushfire proximity concerns. Even though our community does not appear to be in a fire-pron…
Q: Our community’s liability insurance policies are up for renewal soon. Some neighboring associations are reporting ten-fold increases in fire insurance premiums due to brushfire proximity concerns. Even though our community does not appear to be in a fire-prone area according to real estate sources, are we in for a huge shock? — B.C., Rancho Santa Margarita.
As to the outlook for insurance premiums, Litman said “unfortunately, this is going to be a long-term problem. According to reports, claims for wildfires are increasing substantially each year.” Bare walls insurance means the HOA only insures for the shell of the residence – the interior is only restored to the drywall, excluding fixtures , finishes and interior contents. Many of my condominium client associations have moved in that direction, but first, the CC&Rs must be examined.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/USD Forex Signal: Another Drop to Parity Highly LikelyThe EUR/USD price rose sharply after the hawkish interest rate decision by the Federal Reserve.
Read more »
8 Life-Saving Tips to Avoid a Shark Attack — Best LifeWith human encounters on the rise, experts share life-saving advice on how to swim safely and avoid a shark attack.
Read more »
Naperville suitor gets the boot after rejecting a rose offered by one of the ‘Bachelorette’ ladiesNaperville suitor rejects rose from 'Bachelorette' and ends up leaving show
Read more »
What Is a Recession and Are We in One Now?The U.S. economy contracted at an annual rate in two consecutive quarters this year, meeting one common definition of recession. So, are we in one? Here's what to know.
Read more »
Federal Reserve hikes interest rates for the fourth time this yearThe rise in the federal funds rate, which is what banks charge each other for overnight loans, comes as several significant pieces of economic data are released this week.
Read more »
Bitcoin Briefly Jumps Above $23,000 as It Attempts Another Rally Following Fed Rate HikeBitcoin rose above $23,000 following stocks higher after the U.S. Federal Reserve raised interest rates but suggested the pace of hikes could slow.
Read more »