2) An attempt to reverse the onerous and invasive Insurance requirements, failed. So the law remains: all Unit Owners must, upon request of the Board, provide proof of Insurance, and if they refuse, the Association may Force Place a policy, and Lien the Unit to effect Collection of the premium.
OK...so I understand we need private insurance on our condo...how much?? I currently have a policy for $20,000 (2,000 loss assessment payable to the association). My insurance agent told us that was adequate coverage...I know some associations are enforcing a minimum of $35,000 coverage...our unit isn't assessed for that much! Is there are "legal" coverage amount...I believe my agent not the Condo Board!
Thursday, June 11, 2009
condo insurance
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16 comments:
Hi Christine,
There is NO dollar amount mentioned in FS 718 as regards your Homeowners Insurance. $35,000.00 is recommended by Dan Gladstone, our Insurance Committee Chair.
Dan has seen many cases and thus has much experience in the amount of money required to effect restoration of damaged apartments
In the final analysis, the amount of insurance is up to you, the Unit Owner!
Dave Israel
Dan Gladstone is an idiot. You are paying exorbitant insurance rates because of his close ties with the insurance agent.
To paint the drywall that the association puts in, some cabinets and doors, $8,000 is more than sufficient. Your unit is only worth $30,000!!!!
Speak for yourself,
I have more than $30,000 in artwork and equipment in my condo. You want a bare shell with no personal belongings after a casualty it's your choice to make up the shortfall in insurance proceeds. What of alternate living arrangements. I know of owners displaced for over a year! Widen your perspective!
Anonymous 3:04
You too are an idiot. Art work is contents insurance..a seperate item.
I have been doing insurance repairs in South Florida for 30 years.
Call me at 686-2626 and I'll do you a good job at a good price.
If you got a shortfall that you have to cover, then you propabbly used Dan Gladstone as the adjuster instead of a public adjuster.
Alternate living arrangements should be covered by your associartion policy. Check it.
In insurance it is called risk, and everyone has they're own tolerance to it. Dan is not an idiot for recommending $35,000. Consider if you are a full-time resident, with fairly new furniture, bought at a good furniture store, consider appliances, TV's, computers, bathrooms, clothes, shoes (ladies), etc. When you start adding every thing up, you have a fairly good amount of money tied up in your home and what insurance is there to do is make you "whole", which means the same as you were before the fire, hurriccane, etc. Everyone has their own tolerance to risk--me, I want what I had before--not more, just the same. And, if I'm smart, I'll look around and decide what it will cost to make me "whole" again and them insure myself. It's your choice to how much you want to insure yourself for. No insurance agent should make your decision for you--you should. Also, jewelry and art should be separately insured under an insurance floater--so you get the real value for the items. You can't go to a store and buy the exact painting, so they should be valued and documented by a pro if they have significant value. I got mine at "pictures are us", so I'm not really worried.
The suggested recommendation of
35,000 per, is not for personal
contents only restoration,
Removal and replacement of all fixed items.(cabinets,appliances
floors,wall paper etc.)
Furniture, clothing etc., is under
personal contents..they do not have
to have the same dollar amount.
Temporary housing, is NOT an Association responsibility...
Severe mold remediation can cost up to $50,000 as it did in a Stratford Building....
Kitchen cabinets, etc. can cost up to $15,000...
Carpets/tiles, paint, bathroom tiles, vanities, base boards and any additions & improvements can cost up to $15,000...
Enclosed patio (again, high quality) and up to code, can cost up to $10,000.
An anonymous poster who gives out his telephone number to solicit work at reasonable prices while calling posters idiots... PRICELESS
Hi All,
FYI: a reverse sort on the A Nony Mouse (Jun 11, 2009 4:14:00 PM)
telephone number Yields the following:
"Carpenters Local 130
1810 Old Okeechobee Rd
West Palm Beach,FL 33409-5228
686-2626"
Could the A Nony Mouse post, be self-serving?
Dave Israel
I agree with anonymous. If the association buys a policy for your unit for more that $8,000, sue them ( in small claims court)((no lawyers))
ps. This law is unconstitutional, and has not been court tested.
Dearest Randall,
Your delusional world is crumbling.
Your slip is showing.
Time for new medication.
Having been involved with water damage to 2 condos in my association, $35,000. seems a small amount if one of the bigger recommended restoration companies is used. They are good, slow and very, very expensive. They charged a neighbour $850 for a kitchen cabinet that stands on the floor because they said it was extra although he had a cabinet there before. I didn't pay that much to get all cabinets for my kitchen at Home Depot. They charged $2,500. over the cost of the cheepest rugs for laminent wood flooring. That is for a 1 1/2 condo. I think it is a bit much but the owner is older and the mess of his condo and being displaced to a neighbor's condo really has done him in. After a week of having brought back his furniture and boxes from a pod they came to put back the stove and fridge where they belong. That was after I got involved and spoke with them. I am not naming names and have spoken to others who have used them and in the end they found they really had to go over the bills. The charges were very high.
You new yorkers are stupid paying those ridiculous prices. your ruining it for us locals.
lets get some sensible people running the show in here.
Dave,
I went to our president to check our insurance policy and he says that he dont have it. ??????
Hi A Nony Mouse
Jun 12, 2009 10:50:00 AM,
Have your President see Dan Gladstone at UCO.
Dan will provide the Insurance documents.
Dave Israel
To: kurt Wise:
If this insurance law has not been court - tested, how do you know it's "unconstitutional"? So far, it's the LAW!
Furthermore, I think Dan Gladstone knows more about insurance and insurance needs than all the "idots" put together.
To SY,
the LAW also allowed the jews to be disposed of.
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