058 | How to Lower Your HOA Insurance Costs!

Рет қаралды 152

Күн бұрын

Learn how to easily lower your HOA insurance costs with proactive risk assessments and maintenance tips in this episode.
✅ Is a Reserve Study right for you? 👉 www.reservestudy.com/
❗JOIN OUR LIVE STREAM JULY 8th! 👉 kzfaq.info9oouClT3fYQ
In Episode 58 of HOA Insights, we dive into strategies for lowering HOA insurance costs with insurance expert Kevin Davis. Learn how proactive risk assessments and maintenance can make your HOA a preferred client and reduce premiums. Discover practical tips for board members to minimize risks and save money on insurance.
------
Follow Association Reserves!
Website 👉 www.reservestudy.com/
KZfaq 👉 / @reservestudies
Facebook 👉 / reserves
Twitter 👉 / reserves
Get your HOA FiPhO Score Now! 👉 OurFiPhO.com/
------
Engage in the conversation!
Call our 24/7 voicemail line at (805) 203-3130 or send an email or voice memo to podcast@reservestudy.com
Connect with Hosts on LinkedIn & Twitter
Julie Adamen
/ julieadamen
Kevin Davis, CIRMS
/ kevin-davis-98105a12
Robert Nordlund, PE
/ robert-nordlund-pe-rs-...
Support Our Sponsors
Association Insights & Marketplace
www.ourfipho.com/
Association Reserves
www.reservestudy.com/
Community Financials
communityfinancials.com/
Kevin Davis Insurance Services
www.kdisonline.com/
Stokelight Video & Marketing
stokelight.com/
---
00:00 Do a risk assessment for your community!
01:03 Go to Our HOA Merch Store!
02:43 New Live Stream Episode July 8th!
03:38 Listener question - How can you lower rates for HOA Insurances?
05:10 You CAN compete for a lower HOA Insurance Rate
07:32 Doing a Formal Risk Assessment annually
13:47 Insurance Services Can’t Make Money Lately Due to Communities Not Having Reserves
15:02 Ad Break Our FiPhO
15:33 What are credits and debits for insurance?
22:41 Having Security Helps Insurance costs!
26:47 The Key Thing is This….
#HOAInsurance #LoweringInsuranceCost #HOA

Пікірлер: 5

@albertrapant2036 9 күн бұрын

How do you become a "Preferred Association" in the eyes of an insurance company?

@reservestudies 8 күн бұрын

Take good care of your property (maintenance), fund Reserves, perform Reserve projects in a timely manner, minimize known hazards, and tell your insurance agent about it!

@dawsonprice3154 24 күн бұрын

Do you have any resources on loss assessment coverage for condo unit owners or have you covered this on a previous episode? My condos case we have earthquake insurance with 10% deductible. We have gotten mixed messages from the insurance agent for our association and agents for the individual unit owners. The condo agent has indicated that in the event of a loss and should the association have to issue a special assessment that the unit owners would we able to use the loss assessment of there individual policies to pay for the assessment, but added the caveat that the unit owners would need to have individual earthquake coverage as well. Our bylaws indicate that the unit owners responsibility is from the studs inward. Some of the unit owners have indicated that their agents have told them that as long as the association itself has quake insurance for the structure, they don't need to have earthquake insure. Other unit owners have been told by their agents they do need quake insurance as well for the loss assessment coverage to be used in the event of a special assessment to pay for damage as result of quake. I figure the answer is somewhere between.

@reservestudies 17 күн бұрын

Consider a new insurance product - special assessment insurance. See www.feesible.com/

@reservestudies 8 күн бұрын

see www.feesible.com