HOAs and Community Associations | Insurance Explained

Описание: Insurance for Condominium and Homeowner Associations can be complicated if you are not familiar with the many factors that need to be considered. Our Community Association Team is dedicated exclusively to serving the needs of Associations as they focus all their efforts on handling the types of insurance products and coverage specific to this unique group.

A homeowners association (HOA) shoulders not only the wellbeing of a community but also many of its inherent risks. With few regulations and no general insurance programs able to fit all HOAs, it is imperative to understand the details of your association’s coverage and design it to meet your needs.

HOAs are required to possess general property and liability insurance; however, these policies can’t cover the HOA from every angle.

If you stop to think about your association’s policy, you might come up with a few questions:
How much coverage does general insurance actually supply?
Is there coverage out there for my association’s automobiles?
What about our employees and directors?
Property?
money flow?
Workers?
Executives?

A robust HOA requires much of the same insurance as a regular business. Everything from vehicle operation to officer conduct can be a source of liability. Holes in coverage should be searched out and plugged quickly.

The variety and depth of HOA coverage is huge and difficult to navigate. An agent who understands your community is crucial to getting excellent coverage. Call Watkins Insurance Group and discuss any changes to your community or concerns you may have about your HOA’s coverage. Working together, we can discover the exact insurance your association needs to protect the assets of your living community.

We’re here to help.

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