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Learn how communities can take control of rising HOA insurance costs with some simple steps!
✅ Is a Reserve Study right for you? 👉 https://www.reservestudy.com/

Are rising HOA insurance premiums stressing your board? You may have more control than you realize! In this episode of HOA Insights, Kevin Davis and Robin Manougian delve into effective strategies for controlling HOA insurance costs and minimizing risks. They explore key factors, including the importance of proactive maintenance, budgeting for reserves, and understanding the broader impact of catastrophic losses on the insurance market. Learn how to secure the best possible rates by maintaining a healthy balance sheet and educating board members on their responsibilities.
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Chapters

00:00 What Insurance Brokers Are Looking for in HOA Communities
00:49 Introduction to Robin Manougian
03:55 Why is Insurance So High?
09:18 Insurance Carriers Are Panicking
10:45 What HOAs Can Do to Lower Insurance Costs
13:35 Risk Mitigation With Updated Utilities
17:35 Reserve Studies and Keeping Insurance Rates Low
20:10 Maintenance and Asset Deterioration
23:42 Ad Break - Association Reserves
24:24 What’s Next for HOA Insurance
26:51 Expected 2025 Insurance Premium Increases
28:33 Top Concerns for HOA Insurance
30:34 The Uncertain Future of Condominiums
32:55 Positive News for Associations

The views & opinions expressed in this program are those of the Hosts & Guests, intended to provide general education about the community association industry. The content is not intended to provide specific advice or recommendations for any individual or organization. Please seek advice from licensed professionals.

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Julie Adamen
https://www.linkedin.com/in/julieadamen/

Kevin Davis, CIRMS
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