McCredie insurance is known by many as the agency to turn to when you’re looking for the perfect Condominium insurance. Not only do we have extensive experience, but we are also longtime members of several prestigious associations. Our skilled agents will do the shopping for you, relieving you of the burden of shopping for quotes.

When purchasing a home, the mortgage company often requires a certain amount of insurance to protect its investment, something a homeowner would want protected as well. For single family homes, it's pretty much cut and dry—insure the structure(s) and reduce potential liability on the property. Additional insurance provisions may also be outlined in the association's Covenants, Conditions, and Restrictions (“CC&Rs”) as well as through the insurance agent you've selected.

Most Associations have Directors and Officers insurance; the problem is that most people do not know exactly what is covered. There are many different forms out there and it is vital that Directors have the broadest form of coverage available. Below are some recommendations of what should be included in the policy.

In any HO policy, owners can obtain different amounts and types of LAC. To find it in a policy, check the index or the attached endorsements. Frequently, the limits are listed on a declarations page. When LAC is built into the basic policy form, the coverage typically appears among the "supplemental coverages." If it is an elected coverage. it's usually an endorsement--a separate document appended to the policy. Ask your insurance agent for specifics on limits, rates, and other provisions.

A disaster plan begins with assessing your needs. What is the potential for loss and who will be affected?

If you live in a multiple unit building and you sustain a loss, typically that loss will affect at least one other unit owner.

An insurance package that properly covers the association and the unit owner is just the first step. The next step is to do as much preventative maintenance as possible.

In response to the dramatic increase in pollution claims, many insurance companies have completely removed pollution coverage from their policies. This valuable protection is now available through one of our insurance companies, the Community Association Underwriters (CAU).

It’s “that time of year,” Time to start thinking about cold weather and how Mother Nature will affect your community. There are four areas you should be concerned about when getting ready for winter.

One of the largest budget items for Condominium Associations is the insurance that must be purchased to protect the interests of the Association. With the differences in coverages for the various insurance companies in the marketplace, it is sometimes difficult for a Board of Directors to determine what the best value is for their Association. The information provided in this article would hopefully assist the Board of Directors in making their decision on the purchase of insurance.