How is insurance paid for a PUD? Does the owner pay? I have a condo policy for the interior. I want to make sure that I have full coverage.

Asked by Deb, Indianapolis, IN Fri Jan 29, 2010

My HOA pays insurance for all of the dwellings in our community (total 62) for a
coverage amount of $330,000. My personal policy is for the interior of the property.
Should I purchase a homeowner's policy instead of a condo policy. My mortgage company
indicates that I do not have enough coverage. I live in a "PUD" instead of a condo.

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Betty Byrnes, , Kokomo, IN
Fri Jan 29, 2010
Deb -

Each PUD is different so you need to check your HOA documents to see exactly what they cover. Here in Kokomo, some only the common areas, some the common areas and the roof, some cover everything, etc. If you can't find the info in your HOA docs, call their rep and ask for a copy of the insurance coverage.

Hope this helps.

Betty Byrnes
Web Reference:  http://www.LiveInKokomo.com
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