Condominium associations have the tough challenge of investing condo fee revenue appropriately to ensure that unit owners’ investment doesn’t deteriorate as the building ages. Aggressive cost-cutting can lower the resale value for unit owners. Yet excessive spending may require increased fees, which can also have a negative impact on the value of the units.
A similar cost-benefit analysis can be done when selecting a property insurance partner. Often the main concern for condominium associations when purchasing insurance is cost—the premium paid to secure the policy. AFM believes that while competitive pricing is important, choosing on price alone can also lead to unwanted impacts to unit owners’ investments.
AFM provides the ideal cost-benefit balance for condominium associations through our specialized proVision Condominium endorsement. We understand what matters to condominium associations when choosing an insurance partner: