fbpx

Sharper Management

952-224-4777

Insurance Market Troubles

insurance market

The insurance market for HOAs has been volatile, at best, for the last decade. 2023 has been horrendous on a number of fronts. For most associations, premium increases have been somewhere between 20-40%. For some, the primary business/structural policy premium has doubled. And for a rapidly growing number of associations, surprising news of non-renewals has […]

HOA Insurance Policies

For residents and HOA board members, there seems to be a lot of lingo when it comes to insurance. How do you know which policies cover which property? How do you know what insurance requirements to make when managing an association? We’ve explained the “walls out” and “walls in” policies to help you understand what […]

Loss Assessments

In the Midwest, we’re all too familiar with summer storms and the damage they can cause to houses and buildings. HOA reserve funds are available for unexpected damages or emergencies, but using them could cause the association to be short on funds for future projects and non-insurance related repairs. Understanding how your insurance policies work […]

Getting Ready to Sell in an HOA

Prepping for the sale of your home doesn’t need to be an arduous task. Just like selling any other single-family home, selling your townhouse or condo may require a few interior updates and fixes, but there are also a few simple things that you can do that will go a long way in adding appeal […]

Understanding Insurance in a Homeowners Association

Understanding insurance in a multi-unit dwelling/Association can be daunting. What does the Association’s master policy cover? What does my personal insurance policy cover (usually referred to as an “HO6” policy)? Which policy kicks in for a particular loss? Unfortunately, there are a number of variables that makes it impossible to give a universal answer to […]

Storm Damage and Your HOA – Choosing a Restoration Company

Summer storms in Minnesota are shaping up to be a regular occurrence in 2017. The June storm that caused significant damage in the northern metro prompted us to review a few things you may want to know about storm damage and living in an HOA. First off, all HOAs have their own set of governing […]

Things to Know Before Selling in an HOA

As spring rapidly approaches in Minnesota, you may be thinking of selling your townhome or condominium. In addition to fixing a few things and adding a fresh coat of paint to your walls, there are also a few actions and items you’ll want to familiarize yourself with regarding your HOA before listing your home. Because […]

Understanding Insurance in an HOA

Understanding insurance in a multi-unit dwelling/Association can be daunting. What does the Association’s master policy cover?  What does my personal insurance policy cover (usually referred to as an “HO6” policy)? Which policy kicks in for a particular loss? Unfortunately, there are a number of variables that makes it impossible to give a universal answer to […]