WHAT IS FLORIDA HOA INSURANCE DISCLOSURE?
A disclosure refers to making secret information known. This means that an HOA insurance disclosure shares the specific association’s insurance coverage such as general liability insurance, property insurance, earthquake/flood and natural disaster insurance, and anything else that may be relevant. In addition to disclosing the type of insurance, you need to disclose the name of the insurer, the policy limit, and the amount of the deductible for the insurance. An HOA is required to prepare this type of insurance disclosure for its members yearly. When dealing with insurance for your HOA, it is important to talk with an insurance professional that specializes in homeowners associations because they can help you understand the requirements of your insurance coverage as well as the necessary insurance disclosures. If you have any questions, feel free to reach out to Moran Financial Solutions.