Residents Seek Insurance Savings for Communities
As insurance costs continue climbing across Florida, a newly formed group of Century Village East residents is launching an initiative aimed at helping condominium associations reduce insurance premiums while maintaining quality coverage.
The group, made up of retired business owners, says rising insurance expenses have become one of the most pressing financial issues facing condominium communities, including both high-rise and garden-style buildings.
According to organizers, the effort is designed to give associations greater negotiating leverage when exploring insurance options. While each condominium association would continue making its own independent insurance decisions, the program seeks to provide communities with additional choices and potential savings opportunities.
Organizers pointed to one example in which a building’s insurance costs reportedly dropped from $95,000 to $53,000 through participation in the program, resulting in potential savings of more than $42,000.
The group also noted that similar programs have already been implemented in other Century Village communities, including Century Village West in Boca Raton, Century Village North in West Palm Beach and Century Village South in Pembroke Pines.
An informational Town Hall meeting for board members only is scheduled for Wednesday, June 17, at 7:30 p.m. Organizers are asking attendees to RSVP by email to CVEAdvocacyClub.com to reserve a spot.
