Insurance for HOAs and Condo Associations
Homeowners associations and condo associations are responsible for a lot more than most people realize — common areas, shared amenities, board decisions, vendor contracts, and the financial well-being of the community as a whole. A pool injury, a dispute over a board decision, storm damage to a shared roof, or an employee or contractor injury on the property can all create liability that the association — and sometimes individual board members — are on the hook for. We help HOAs and condo associations build coverage that protects the community, the board, and the budget.
Coverage HOAs and condo associations typically need:
General Liability — Covers third-party claims of bodily injury or property damage in common areas — think a slip on a wet walkway, an injury at the pool or fitness center, or damage caused by association-maintained landscaping or equipment.
Property Insurance — Covers shared structures and common elements — roofs, clubhouses, pools, fences, and other amenities — against fire, storms, and other covered losses. For condo associations, this often extends to the building structure itself, while individual unit owners typically carry their own coverage for interiors.
Directors & Officers (D&O) Insurance — Board members make decisions on behalf of the entire community and can be held personally liable for those decisions — disputes over rule enforcement, financial mismanagement claims, or conflicts with vendors or homeowners. D&O coverage protects board members’ personal assets and helps attract volunteers willing to serve.
Crime & Fidelity Insurance — Associations manage dues, reserve funds, and vendor payments, creating exposure to theft or embezzlement by board members, management staff, or anyone with access to association funds. Crime coverage protects the community’s finances against dishonest acts.
Workers’ Compensation — If the association directly employs staff — groundskeepers, maintenance workers, front-desk or security personnel — this covers medical costs and lost wages if they’re injured on the job.
Umbrella/Excess Liability — Given the number of residents, guests, and visitors using shared spaces, an umbrella policy adds an extra layer of protection above your other liability coverage in case of a significant claim.
Equipment Breakdown — Covers the cost of repairing or replacing shared equipment — elevators, HVAC systems, pool pumps, and other mechanical systems — when they break down unexpectedly.
Every community is different — a small townhome HOA, a high-rise condo association, and a large master-planned community all carry different levels of risk depending on the amenities, staff, and shared structures involved. We’ll help you build a coverage program that protects the community as a whole, the board members who volunteer their time, and the budget that residents depend on.