When residents of the Chandler's Lane Condominium complex in Olmstead Falls, Ohio, lost their homes to a fire in September 2018, many were faced with the startling realization that their insurance was not enough to cover their losses.
Properly insuring a condominium can be tricky and depends on the terms set out by the condo developer, explains Charla Martin-Bloodsaw, director of Â鶹ÊÓƵ's Insurance Studies program at the Salem Campus.
Martin-Bloodsaw was featured on a recent report aired on WEWS Channel 5 in Cleveland, which examined the issue of the Chandler's Lane condo owners and how many are struggling from not enough coverage to pay for their damages. She offers insurance advice for anyone who lives in a condo to make sure their losses would be fully covered in case of similar fire.
See her entire interview here: