Thanks for the great question.
David Cooper. Las Vegas Foreclosure Investor in Bank Owned Cash flow Houses. FReee List +1-7024997037...
not a real estate agent. ask about limited partnerships
There are no set numbers (17k) to refer to as was intimated by a previous comment. The guidelines for establishing costs are predicated strictly on risk. If you're in a zone 4 seismic area you will pay more and have a much higher deductible or pay handsomely for a lower one.
But to address your question specifically if your condo complex does not have earthquake coverage for the entire common walled complex I don't think there's a legitimate insurance company in the business that would cover you structurally. If you think about it how could they? What impacts your neighbors side to side, over and under you will impact you.You could probably look into an interior contents policy but I would think that would be pretty pricey.
Check out the following links: The first one will tell you what seismic zone you're referring to which looks like the Glendale area. the second link will provide you with a list of HOA/Condo EQ Ins. specialiasts. Good luck.
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What are the reserves in the HOA's account ..have you attended any of the Hoa's meetings and brought up your question?
The link posted is from 2007.
I would definitely hit an insurance agent up with this scenario. Condo insurance is always such a dilemma. The HOA's cover something's but not others.
My associate recently checked into one policy on a condo community. The HOA's insurance covered everything within the "inside" unit too, as long as it was "original" from the builder.
So if the owner upgraded his flooring from linoleum, or counters to granite.....the difference from the basics installed and the upgrades would not be covered. And as with everything....get it in writing!
Thanks M Cole!
You can, however, insure the interior of your unit and its contents.
Insurance responsibility for a multi unit condo, as whole, would be in the hands of the association of owners that jointly represent ownership.
Las Vegas Foreclosure House Investor with Cash Flow. 10% down Financing. Call Free List +1-7024997037
email@example.com not a real estate agent
But to answer your question I find it highly unlikely that you would be able to find any ligitimate insurance company that would be bold enough to sell you an earthquake insurance policy in a condo complex.