The United States property insurance market has hardened significantly over the past decade.
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What Insurance Coverage Does my Association Carry?
Your association's insurance varies based on your declaration of covenants, conditions and restrictions (CC&Rs) and your state statutes. Washington and many other states require specific scope for property insurance that serves as primary in the event of a loss and for other types of insurance such as director and officer's (D&O) coverage. Notably, regardless of your state, individual units / homes are often responsible for paying in-unit claim deductibles.
The Damage / Loss Flow Chart below is one example applicable condominium communities. Your governing documents may have different requirements.
H06 "WALLS-IN" COVERAGE BREAKDOWN
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KEY TERMS & COVERAGES
Business insurance is a general term that includes a gamut of different coverages.
General Liability insurance covers certain types of bodily injury and other liabilities. Many General Liability policies include $5,000 of no-fault liability coverage where the insurance carrier pays up to $5,000 without the need for litigation.
Workers' Compensation insurance often excludes volunteers. Five states (North Dakota, Ohio, Washington, West Virginia, and Wyoming) run their own programs for workers' comp coverage. Washington State Department of Labor & Industries (L&I) does not offer coverage for volunteers.
Many CICs do not realize that they possess little to no insurance coverage for bodily injuries incurred by their volunteers.
Washington State Administrative Code (WAC) clarifies statutes related to workers' compensation and risk classifications.
WA State L&I also tracks hourly wage rates for specific risk classifications that may receive alternative forms of non cash-compensation. 2022's average wage for class 4910 = $33.50/hour.
Notably, according to WAC 296-17-31018(4), many classifications (incl. 4910) exclude coverage for alterations and new construction.
Alterations are changes made to a building during its remodeling, such as increasing or reducing floor area, making or closing openings, erecting or demolishing walls, etc.
Washington State: Workers' Compensation Coverage
Washington State: Insurance for Volunteers
Learn how Volunteers Are (NOT) Covered
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