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HOA Insurance

HOA FinanceHOA Insurance

Rising HOA Insurance Costs And The Impact On HOA Fees

Rising HOA insurance prices prevent some associations from securing the coverage they need. Even worse, many homeowners are increasing dues to cover the additional costs. Board members must understand the reasons behind these increases and how to deal with them effectively.   What is the Cause of Rising HOA Insurance? For many homeowners associations, insurance is a major expense. In addition to the master policy, HOAs need to acquire various coverage types, including D&O insurance, workers' compensation insurance, liability insurance,…
jivko
January 22, 2025
HOA Insurance

9 Benefits Of Condo Association Insurance

Condo association insurance protects condominium communities from financial risks. Every condo association should have an insurance policy to safeguard common areas and protect owners from costly repairs. Without proper coverage, associations might encounter problems with financial stability.   What is Condo Association Insurance? Condominium association insurance, also known as a master policy, offers coverage for the shared elements of a condominium complex. This includes roofs, hallways, lobbies, and other common areas. This type of insurance helps protect associations from property…
Melanie
June 28, 2020
HOA Insurance

HOA Insurance: Types, Coverage And FAQs

Every community needs HOA insurance. Insurance serves as an association's first line of defense in the event of property damage, liability, or a natural disaster. With insurance, an association can protect its finances and get back on the right track without losing too much. Understanding the types of insurance and what they entail is essential.   What is HOA Insurance? Homeowners association insurance, also known as a master policy, is a type of coverage that protects an HOA from insurance…
Melanie
July 21, 2018