How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 110503
Experience:  Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
Type Your Real Estate Law Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

What is the law on Condominium Insurance Deductibles and

Customer Question

What is the law on Condominium Insurance Deductibles and Board of Directors' responsibility vis a vis Condominium Owners?
Submitted: 4 months ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 4 months ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
Under OH law, there is no statute that sets deductible limits for condominium policies. The OH Condominium laws state only that the bylaws of the association will govern matters involving the association. Thus, it is up to the members and board of directors in some cases to decide their own fate with regard to these matters. What the board is looking to do is to save money on a policy by getting one with a higher deductible, meaning that in the event of damage there would be a higher burden on the owners through assessments to pay the deductible.
ORC 5312.06 only says that the condo association shall maintain liability insurance, it does not say how much or what the deductible should be set at.

Related Real Estate Law Questions