Rate shock: Skyrocketing insurance premiums straining community associations
Ungrated
MARCH 20, 2023
Community associations in California are staring at skyrocketing insurance premiums. Some are facing increases of as much as hundreds of thousands of dollars per year. Community finances are being strained and, in some cases, it’s become impossible for new buyers to secure mortgage lending. “When a $40,000 premium for an annual policy becomes $455,000 the next year, with no indication of whether it will stay there, or even increase the subsequent year, the association’s response is usually
Let's personalize your content