Insurance For Condo Common Grounds?

[lovett19]

I'm shopping around for an insurance policy to cover the common grounds & exteriors of our condo complex. Our 2009 - 2010 policy had five components, the bulk of which was a "Commercial Package" that cost $19k. The other four pieces included: Umbrella, Directors & Officers, Fidelity Bond, and Boiler & Machinery. Total policy cost = $22k. We have a $1000 deductible per occurrence, except for Wind/Hail/Hurricane, which is a 2% deductible.

Yeah, after Hurricanes Katrina & Ike, finding commercial insurance for our complex got MUCH more expensive, not to mention -- hard to find.

I thought I'd ask around to see if I can find us anything better, since our current policy is up for renewal.

Thanks!

Lovett19

[cumby]

I can't help, but I can commiserate. My insurance is dropping me because they decided me sharing a firewall was worth not covering me. I'm a townhome to them and that's the worst thing in the world, though that wall is the only thing we share and HCAD has us as a single family dwelling. Grrrr. My agent tried a million places and could only find two that would cover us - at an addl $600 a year.

Good luck, Ike and everyone who took advantage of claims that they didn't need to (there was some REAL exploitation I saw) killed insurance for Harris County. If you buy a new place, you are kinda screwed.

[sonic0boom]

Cumby, I have the same setup -- share a firewall but listed as single family with HCAD -- but didn't have any problems getting (and keeping) home owners insurance with Nationwide. You might want to check with them. I'm in the 77007 zip code and not in a flood zone.