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Old 06-21-2018, 08:53 AM
 
3,002 posts, read 1,963,775 times
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I was reading this news from February out of Las Vegas where someone was injured on a swing set won a 20 million dollar verdict against the HOA. The HOA only had a 2 million dollar liability policy now every homeowner has to pay 88k or more doesn't even include legal fees. Depending on the community the HOA should carry large enough insurance policy to cover their liabilities.

https://independentamericancommuniti...ners-millions/


https://www.ktnv.com/news/contact-13...set-negligence
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Old 06-21-2018, 10:21 AM
 
Location: Columbia SC
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I believe there was a settlement within the policy limits but the HOA foolishly decided to go to court. I understand the HOA is appealing the decision so no money has changed hands yet.

Of the thousands of HOAs, this one isolated case should not be a deciding factor.

If paranoid, I assume one could purchase some type of personal insurance to protect one's self in an incident such as this.
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Old 06-21-2018, 10:33 AM
 
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Quote:
Originally Posted by johngolf View Post
I believe there was a settlement within the policy limits but the HOA foolishly decided to go to court. I understand the HOA is appealing the decision so no money has changed hands yet.

Of the thousands of HOAs, this one isolated case should not be a deciding factor.

If paranoid, I assume one could purchase some type of personal insurance to protect one's self in an incident such as this.

Your information is incorrect it was the insurance company that had the authority to take the settlement they chose go to trial not the HOA.

"The (HOA) board didn't have authority," McKelleb explained. "The policy provided that authority to the insurance carrier... The insurance company turned that down and went to trial."

Valley HOA will not pay $20 million to victim of collapsed swing - FOX5 Vegas - KVVU


The legal fees are mounting they are now appealing the original verdict and suing the insurance company for choosing go to trial. The insurance company if they win they also get all their legal fees paid by contract with the HOA.

This entire case is being controlled by attorneys who end up the winners here.

I won't ever be buying a home in an HOA that's my solution
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Old 06-21-2018, 11:38 AM
 
Location: under the beautiful Carolina blue
15,731 posts, read 23,966,899 times
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This is how former Sen. John Edwards made his money. He won the largest settlement (at least at that time) in NC history and it was partially against an HOA (I believe they actually settled but the homeowners had to kick in some money).
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Old 06-21-2018, 01:41 PM
 
Location: Columbia SC
7,961 posts, read 6,710,786 times
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Quote:
Originally Posted by kell490 View Post
Your information is incorrect it was the insurance company that had the authority to take the settlement they chose go to trial not the HOA.

"The (HOA) board didn't have authority," McKelleb explained. "The policy provided that authority to the insurance carrier... The insurance company turned that down and went to trial."

Valley HOA will not pay $20 million to victim of collapsed swing - FOX5 Vegas - KVVU


The legal fees are mounting they are now appealing the original verdict and suing the insurance company for choosing go to trial. The insurance company if they win they also get all their legal fees paid by contract with the HOA.

This entire case is being controlled by attorneys who end up the winners here.

I won't ever be buying a home in an HOA that's my solution
Did you start this chat with the intention of bashing HOAs?
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Old 06-21-2018, 01:54 PM
 
3,002 posts, read 1,963,775 times
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Quote:
Originally Posted by johngolf View Post
If paranoid, I assume one could purchase some type of personal insurance to protect one's self in an incident such as this.

Quote:
Originally Posted by johngolf View Post
Did you start this chat with the intention of bashing HOAs?
No to inform others that need to be aware of these things when you buy in an HOA


Reading further into this as stated above you can get an extra policy on your homeowners insurance for this situation $100k for around $20 a year. If I did live in an HOA certainly would have that because your liable for the poor decisions an HOA, and in this case the insurance company made. My guess here is the HOA will lose against the insurance company with regard to going to trial vr settling. I don't believe the insurance company made that decision because what would the gain out of it. I have never even heard of any insurance company turn down a settlement offer they always settle. My guess is the HOA had way more to do with this then they are saying now the HOA attorney got them to try and sue the insurance company. I think is another foolish sue insurance companies hardly ever lose lawsuits with their own clients the contracts you sign when you get insurance is all on their side. The contract will say the loser of that will pay attorney fees which means the community will be on the hook for 400-500k legal fees when this is all over with.
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Old 06-21-2018, 02:52 PM
 
2,393 posts, read 4,860,508 times
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The same thing could happen to an individual homeowner with a 1M umbrella policy...so what do you consider is an adequate amount of insurance for a homeowner? For an HOA??
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Old 06-21-2018, 03:40 PM
 
98 posts, read 40,282 times
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Quote:
Originally Posted by kell490 View Post
No to inform others that need to be aware of these things when you buy in an HOA


Reading further into this as stated above you can get an extra policy on your homeowners insurance for this situation $100k for around $20 a year. If I did live in an HOA certainly would have that because your liable for the poor decisions an HOA, and in this case the insurance company made. My guess here is the HOA will lose against the insurance company with regard to going to trial vr settling. I don't believe the insurance company made that decision because what would the gain out of it. I have never even heard of any insurance company turn down a settlement offer they always settle. My guess is the HOA had way more to do with this then they are saying now the HOA attorney got them to try and sue the insurance company. I think is another foolish sue insurance companies hardly ever lose lawsuits with their own clients the contracts you sign when you get insurance is all on their side. The contract will say the loser of that will pay attorney fees which means the community will be on the hook for 400-500k legal fees when this is all over with.
If a resident in that HOA wanted to sell right now, in the midst of all this litigation, would they be able to?
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Old 06-21-2018, 03:41 PM
 
3,127 posts, read 2,629,593 times
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I wonder who was on that jury? "Voir dire" is the science of picking jurors. Clever use of voir dire can result in a lop sided jury verdict.
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Old 06-21-2018, 04:49 PM
 
3,002 posts, read 1,963,775 times
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Quote:
Originally Posted by rational1 View Post
The same thing could happen to an individual homeowner with a 1M umbrella policy...so what do you consider is an adequate amount of insurance for a homeowner? For an HOA??
I disagree private home is not open to the public, so the obligation is different. Plaintiff has to show negligence on the part of the homeowner was known. This also happens where an HOA gets into a legal dispute with someone they lose that lawsuit.
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