In today’s world, it is generally regarded as a keen move to have an insurance policy. Therefore, people get insurance policies on just about anything and everything. I’m sure you have heard stories of models insuring their legs, and singers insuring their vocal chords; however, those are some of the extreme cases that the standard person doesn’t have to worry about. Usually the things that your everyday person insures are: cars, house, phones, and their life.
The question that I would like to pose to you is this: When is it a good time to purchase an insurance policy? The answer to that question is surprisingly simple. You get an insurance policy before an unfortunate event occurs. You wouldn’t buy car insurance after your car has been in an accident, you buy it beforehand so that you are covered when the accident occurs. This concept holds true in all facets of life. Intelligent people and businesses are always prepared for the inevitable unfortunate event.
Community Associations also need insurance policies in place in case of emergency, namely HOA dues delinquencies. I hear far too often that a community doesn’t need our services due to them “not having a delinquency problem.” We all know that the economy drives the market place and debt. When the economy is good, debt is down. When the economy is bad, debt goes up. HOA delinquencies are one of those debts directly tied to the economy. So, when a community tells me that they don’t currently have a delinquency problem, I tell them just wait till the next recession and you will.
Every economist on the planet will tell you that there isn’t a question of if another recession will occur, the question is when it will occur. So, if another recession is imminent, wouldn’t it be smart for Community Associations to have an insurance policy in place that can totally cover them in the case of an increase in delinquent files? Equity Experts is that insurance policy. Our processes are uniquely built to relieve Community Associations of all financial and legal risk associated with recovering delinquent debt. No cost, no risk is the tagline that is changing the collections industry one client at a time.
Are you a part of a smart Community Association?
To learn more information on how we can help your community now or provide reassurance for future delinquencies email us at [email protected] or call us at 1-866-293-9636.