Hawaii’s Challenging Condo Insurance Situation
It’s been a rough year for Hawaii’s Condominium Associations, with many seeing their master insurance policy costs soar by 300% or more in just one year. Some buildings even faced increases of 900% to 1,300%. Unfortunately, this situation isn’t likely to improve soon. More condos are now carrying master insurance policies that don’t cover the full replacement cost, which could be a problem if a disaster like a hurricane hits. This has forced some buildings to seek expensive insurance on the seco [...]