Ask the Condo Expert

Often times many people have the same questions. This is an area to ask an expert questions on condominium insurance.

The expert will do their best to answer, in their own opinion, but it is still best to ask your agent, insurer or legal professional. This is an area to get general advice or a coverage determination. The problem is that all policies are different and all states have different laws.

Question: How does is wind deductible different from my regular deductible?

Expert: Your all perils deductible is fixed and for most if not all other perils on the policy. If you live in a coastal area, or an area prone to heavy winds, the insurer might want to apply a special wind deductible. This can be in a fixed dollar amount usually much higher than the standard deductible, but more than likely it will be a percentage of the building coverage amount. The common percentages are 1%,2%,3% and 5% depending on where you live. This needs to be paid attention to. Imagaine that you have a building insured for $10,000,000 and a 5% wind deductible. Now you are responsible for the first $500,000.  WOW!



  1. Vic says:

    Can you suggest any website that discuss insurance requirements that condominium associations should require from any contractors working on premises for the condo association?


  2. Terri Perry says:

    Who is willing to write coverage for Association Maintance Fees and what does it actually cover?

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