Money
Insurance deductible
A deductible is the amount the HOA pays out of pocket before insurance covers a claim. High deductibles lower premiums but increase risk of special assessments or loss assessments. Boards should align deductibles with reserve levels.
These definitions are for general education only. They are not legal, financial, or tax advice. HOA rules vary by community and location—confirm details against your governing documents and qualified professionals before you act.
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