HOA Insurance providers

[Richard Redfern]

Background info: A tornado came through about a year ago and tore up the carports for a rental property of mine in Iowa (I own one unit in the 12-plex).

While the carports have been rebuilt, the HOA's building insurance is coming up for annual renewal with a VERY steep price tag. More than double the current policy premium.

The board of the HOA has reached out to some carriers, but what they're finding is that many large nationwide carriers have a practice of not insuring clients that filed claims in the last three years. This is making it difficult finding insurance carriers willing to offer a policy.

If you have any recommended insurance providers I would love to hear them. Otherwise it's gonna be a costly HOA fee increase for us owners.

Thanks!