Aerial view of Rehoboth Beach, Delaware

Condos & Coastal Property – Mid-Year 2024 Insurance Market Outlook

What We’re Seeing Locally Coastal property is continuing to take increases in property rates, but the increases are trending lower than the 2023 increases. Properties that are claims-free and well-maintained are experiencing between 5-25%. Carriers are offering full coverage limits or additional coverages and lower deductibles for some risks. Wind coverage has been easier to…

Hurricane Season at the Beach: What to Know and Where to Go

The Atlantic Hurricane Season is from June through November. The Town of Ocean City closely monitors all tropical storms and stays in touch with the National Weather Service during any pending storms. Hurricane Watches and Hurricane Warnings are issued by the National Hurricane Center in Miami. A WATCH is issued for an area that could…

A sign directs hurricane evacuees to safety.

5 Things to Know About Updating Your Insurance for Hurricane Season

The Atlantic Hurricane season runs from June 1 to November 30. It’s time to review your insurance coverages to ensure you’re protected financially against hurricane-related losses. Here are five things to consider: Don’t wait until it’s too late—Check your insurance policies well before the storm to see what is and is not covered. Know your…

Man holding cookie for his pet labrador retriever.

Assistance Animals: A Potential Exception to Your Association’s “No Pets” Policy

Requests for assistance animals are one of the most common types of accommodation requests. In fact, in January 2020, the United States Department of Fair Housing and Urban Development (HUD) reported that 60% of all Fair Housing Act (FHA) complaints arise out of the denial of a request for reasonable accommodations and disability access. Of…

Reserve Studies and Your Community

Community Associations Institute (CAI) released revised guidelines for Reserve Study Standards in May of 2023. The update recommends adding two supplemental reports to reserve studies: A Preventive Maintenance Manual Periodic Structural Inspections These reports would be incredibly helpful to maintain buildings as the Boards and/or Management changes. Maryland, Delaware and Virginia each have reserve study requirements…

Maryland Legislative Update on Condominium Insurance

The 2023 Legislative Session in Annapolis has ended and the Community Association Institute MD-Legislative Action Committee (CAI MD-LAC) screened more than 3,000 bills introduced and tracked 87 that were of interest to the Community Association community. Effective Oct. 1, 2023, Maryland HB98/SB403 allows detached condominium units to obtain property insurance coverage as HOAs, with unit owners…

Preparing for a Hurricane

Research scientists at Colorado State University recently updated their projections, and are now expecting “above average” tropical cyclone activity during the 2023 Atlantic Hurricane Season (June 1 – Nov. 30.) ​Many community associations activate an emergency plan as a hurricane approaches. But just how thorough is yours? Download our Hurricane Preparedness Guide to help keep your family safe…

A New Era for Reserve Studies

Recognizing the need for revised guidelines, Community Associations Institute (CAI) released updated Reserve Study Standards in May to provide communities with an improved framework for effective reserve planning. Key changes and benefits offered by the latest standards include a particular emphasis on structural inspections and maintenance. About one year ago, a task force began reviewing existing…