Condo conundrum: Insurance costly, elusive
With two consecutive hyperactive hurricane seasons, local condo associations often find that their single biggest expense is hurricane insurance, not the cost of operating and maintaining their facilities.
And even though Bradenton has been spared a direct hit the last two seasons, finding an insurance carrier willing to write a policy can be difficult.
Such was the case at Wildwood Springs, located south of Cortez Road. Despite having no problems and filing no claims, the condo association was forced to turn to Citizens Property Insurance, Florida’s insurance of last resort.