hoa, condos and lawsuits, insurance (liable, condo, court, ordinance)

[mathjak107]

well heres one im still not sure of...... if your hoa or condo gets sued and the award is more than the insurance carried by the development no question all the owners would be on the hook for the balance...

but the part im still waiting to hear back on is the fact that homeowners insurance and umbrellas normally wont cover you since its not an event caused by you. some insurance companies offer riders called lose prevention that will cover you for over and above what the development carries but i called geico today and they dont offer it..

they werent sure either if i would be covered normally or not and have to get back to us... they did say their co-op insurance does cover that but they werent sure about when your in a condo or hoa

[Norsky1]

what happened? who is getting sued? not sure if there is enough information to fully answer your question. I am a treasurer of an association in a condo building so i may be able to look up some info for you for common policies, etc..

[mathjak107]

well we were discussing the issues of us doing our own security patrols at an hoa meeting by our home in the poconos.

we have a few snow mobilers and atv riders who use our private roads... security always chases them out... the question was what if one of them is injured and wins an award larger then the insurance the development carrys?.


in fact it can be any law suite, maybe a civil rights violation or slander suit against the development where the award is larger... the owners in the development would be held liable for the balance at least in new york and pa .

we found out that homeowners insurance and umbrella policies may not cover you...
they tend to only cover an event that an insured caused.... we are still waiting for geico to determine if we are or not as they dont offer a rider to their homeowners insurance for that.... they do have co-op insurance that covers that they said but not condo or homeowner insurance


guess the answer may turn out to be that a hoa must carry huge amounts of insurance so its never an issue....there goes those dues

[Norsky1]

A good idea to incorporate a no ATV/Snowmobile ordinance within your development? Be sure to add it into the by laws so it stick. Therefore your HOA would not be liable for someones stupidity.

If these are private roads and are not homeowners within the HOA riding on the PRIVATE roads, they are tresspassing, therefore I don't think your insurance would have to pay.

Thoughts?

[mathjak107]

Originally Posted by Norsky1

A good idea to incorporate a no ATV/Snowmobile ordinance within your development? Be sure to add it into the by laws so it stick. Therefore your HOA would not be liable for someones stupidity.

If these are private roads and are not homeowners within the HOA riding on the PRIVATE roads, they are tresspassing, therefore I don't think your insurance would have to pay.

Thoughts?

if our security is found libel by a court then you we woul d have to pay..... it can be any matter that the development looses in court not just atv or snow mobiles.... if our board gets sued and losses is another aspect.

its any award larger then the developments policy..remember we are talking awards, not wether or not you may win initially

[Norsky1]

Big insurance policy it is then I guess..

[mathjak107]

i think thats the answer...... anyone in a condo or hoa better take a good look at their developments insurance coverage before your left holding the bag....