You know that you spend a lot on insurance for your condominium association or HOA. Property, liability, directors’ and officers’, crime or fidelity bond, workers’ compensation, equipment breakdown and umbrella insurance policies add up to a significant portion of any community association’s budget. But do you know how your insurance costs compare to associations similar to yours?
One of the advantages of partnering with a large property management company is that the company has the ability to compile and benchmark data for community associations. That data can help your association compare your operating expenditures to those of similar associations and identify ways you can optimize your operating budget, either by reducing an expense or getting more for your money.
FirstService Residential has just published a first-in-the-industry benchmarking guide for condominium associations and HOAs in Florida, comparing the expenditures of thousands of communities. This guide includes information about insurance, cable and internet services, trash removal, utilities, landscaping and other topics vital to the smooth operation of your association.
Download The Definitive Guide to Florida Condominium & HOA Operating Spend to find out what drives the prices of insurance, how the market has shifted over the last 40 years, what the forecast for insurance in Florida looks like and more.