Condo Associations
Why Choose Geswein Insurance Agency For Your
Condominium Association Insurance?
At Geswein Insurance Agency, we have the answers to all of your Condominium Association Insurance questions:
- What type of building coverage is the Association required to purchase?
- Where does the Association Policy end and the Unit Owner Policy (HO6) begin?
- How do these two policies dovetail together?
- Why is the Association’s Policy responsible for damage caused by a unit owner in their own unit?
- When a unit suffers damage, who pays the Association’s deductible?
These are some of the many questions we answer for Community Association Managers and Board Members every day.
Every Condominium Association is unique in its insurance needs. Each Condominium Association has its own distinctive set of documents known as “The Declaration and Bylaws.” The Declaration and Bylaws determine how the Association should be insured, and specifically mandate the required coverages the Board must purchase on the Association’s behalf. Given the highly specialized requirements of each Association, we offer insurance advice specifically tailored to accommodate the unique and varied needs of each of our clients.
We make it simple with our tried and true intake and evaluation process:
We review the Declaration, including the Insurance Article, to determine the coverage the Board is required to purchase.
We undertake an extensive process to estimate the cost to replace every building in the community, based on the coverage the Board is required to
purchase.
We obtain multiple quotes from insurers and programs that have tailored coverage for Condominium Associations.
We provide a detailed evaluation of available insurance options, along with an executive summary and analysis of the rationale for our recommendation.
We provide strategies to position the Association for long term success.
We meet with Boards and Community Association Managers to explain coverage and options.
We offer online certificates of insurance to lenders and owners 24/7 through EOIDirect.com.
We help the Association manage Unit Owner claims for damages below the Association’s deductible.
"Our Condo Association is quite fortunate to have recently gotten in contact with the Geswein Insurance Agency. We were in need of coverage with a limited time period in which to find a new carrier. Jerry and his staff wasted little time in going to market and securing for us excellent coverage at a reasonable premium. The Geswein Agency is extremely knowledgeable in the area of insurance we needed. The Agency has a common sense approach to looking at things and they were very responsive to questions I had during the process of securing our coverage. I highly recommend the Geswein Agency."
For a consultation and evaluation, please contact Jerry Geswein at jerry@gesweinagency.com or call us at 614-389-2360.
