HOA and condominium insurance in Colorado has been driven up by hail and windstorm losses, wildfire risk, construction cost inflation that has pushed replacement values higher, and the rising cost of reinsurance. Many associations now face higher percentage wind and hail deductibles, roof age restrictions, and tighter underwriting on older buildings.
The market moves in cycles, but the timeline is uncertain. Accurate replacement cost appraisals, roof maintenance records, impact-resistant roofing, and a careful review of your deductible structure all help, and Johnson Insurance Agency can compare coverage from multiple carriers.
Related FAQs
Generally, yes. The Colorado Common Interest Ownership Act (CCIOA, C.R.S. 38-33.3-313) requires associations created on or after July 1, 1992 to maintain property insurance on the common elements and commercial ...
These terms describe how much of the physical structure the HOA's master property policy covers — and directly impact what individual homeowners need in their own HO-6 policies: Bare ...
A lapsed or cancelled HOA master policy triggers serious consequences on multiple fronts: Lender requirements: Mortgages on units in your community typically require HOA coverage. Lenders can force-place coverage ...
