The mayor of West, Tommy Muska, told the AP that the town needs to repair roads, the damaged sewer system, and a school, which will cost $57 million. The price tag for the total property damages resulting from the explosion could reach $100 million.
Meanwhile, the plant itself was only insured for $1 million worth of damages. Texas doesn’t mandate the terms for insurance companies that offer policies to fertilizer plants and therefore doesn’t require them to have insurance that would cover the potential damage they could cause
How many Common Interest Communities are under insured? Got a clubhouse, pool, roads & sidewalks or other such common area elements is the full replacement value included in the communities policy? Do you even know what insurance your condo or hoa has inplace?
