Posts about:
Medical payments coverage, often called MedPay, helps pay for any medical expenses that result from an auto accident. This covers everything from funeral costs to medical treatment, regardless of who caused the crash.
If you’re a landlord, you may already know that there is a type of insurance specifically designed for your rentals. However, insurance for people who rent out properties such as boarding houses and condos also exists, and is called habitational insurance. These two types of insurance policies can easily be confused, so it’s important to understand exactly what makes them different from one another.
Working as a landlord can be a lucrative business, but the reality is that there are many expenses associated with this role. Regardless of the state you live in, or the types of rental properties you oversee, (apartments, condominiums, etc.) it is important to know what these expenses are and also, how to lower them. Here are five common costs you can expect to pay as a landlord.
Homeowners’ associations (HOAs) are the governing bodies that oversee residential communities which are typically subject to a certain set of rules that all members must abide by. HOAs can be composed of the residents of condos, apartment buildings, co-ops or other types of homes.
An HOA should carry insurance coverage to protect itself and its residents and guests from risks and liabilities related to management and/ or ownership of property, and in some states, or by other mandate, they may be required to carry a specific type of coverage. Because there are several types of policies that are beneficial to HOA’s, many opt for a “master policy” which provides those coverages under one policy. Insurance provides coverage for the communal areas for which the HOA is responsible, in situations of theft, vandalism or natural disasters. Most HOA insurance master policies include all or some of the following:
Most homeowners associations (HOAs) have insurance coverage to protect the HOA against liability arising out of accidents and injuries that occur on HOA property. Condo associations also need HOA insurance due to the amount and type of property that they own and manage.