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Loisandclark…, Home Owner in Fremont, CA

I live in a T/H PUD complex (13 yrs) & my homeowners insur included in my mortgage (VA loan). Can our HOA force us to change to a Condo Master?

Asked by Loisandclark2us, Fremont, CA Thu Apr 19, 2012

Policy? My insurance covers inside & structure of my unit. The HOA insurance would only cover the structure plus the common areas of the complex.

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You have every right to choose your own insurance company (and policy) to cover your personal belongings. Some folk bundle their insurance to also cover their vehicles, and there is usually some savings done that way.

Common areas, exterior of the building and other structures covered by the HOA will fall under the policy and servicer selected by the HOA management/board.

Did something happen that made you concerned after 13 years of living there? Perhaps the HOA is offering an opportunity for discounts if the individual owners wanted to piggy back off the master. Can't hurt to check it out.
0 votes Thank Flag Link Thu Apr 19, 2012
If the HOA in charge of managing the complex as well as the insurance, they can choose any company they fell is in the best interest of the complex and homeowners. I would assume they will pick a major company with the best rates available to protect the home owners. Your insurance will cover your personal belongings in case of fire or theft. You can choose any company to cover yourself.

Hope this answers your question.
Brian
0 votes Thank Flag Link Thu Apr 19, 2012
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