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From Annual Shock to Monthly Payments: A New Approach to Insurance Premiums
Insurance premiums for co-ops and condos are surging with double-digit increases year after year, and boards must pay these hefty fees upfront. But there's a financial tool that can help ease this burden. Michael Feldman, CEO of Choice New York, talks to Habitat's Paula Chin and breaks down how insurance premium financing allows boards to spread their annual insurance costs over several months, rather than being forced to make a single lump-sum payment.
Key takeaways:
* Insurance premium financing allows boards to spread their annual insurance costs over 9-10 months instead of paying the full…
The skinny
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