allenges anaged THE EVER-INCREASING GAP BETWEEN INSURANCE DEDUCTIBLES AND HOMEOWNER COVERAGE BY PATRICIA BRAWLEY, CMCA, AMS, PCAM Finding aff ordable property damage insurance is becoming more of a challenge for boards of self-managed communities. Whether yours is a condominium, cooperative, or homeowner association, your board has likely seen an increase in property valuation and estimated replacement costs in the past year. Since the premium for the property policy is based on these, the premium has likely increased proportionately. Some communities have seen their insurance expense double to provide the coverage that is mandated in their documents and bylaws, making it necessary to raise the budget and the annual unit owner fees. February 2024 CONDOMEDIA 27 allenges