text:  That means many condo associations are going to the pricey secondary insurance market to cobble together coverage at exorbitant rates and passing on costs to owners. In reality, it's unlikely that a hurricane would completely obliterate a condo in Honolulu, so condo owners and their associations would be safe with less than 100% coverage. But many mortgage lenders require 100%, so buildings without such coverage end up on do-not-lend mortgage blacklists.