Category

HOA Insurance

HOA Insurance

What Is Loss Assessment Coverage For HOAs And COAs?

Understanding loss assessment coverage for HOA communities is important for both boards and homeowners. Insurance gaps can lead to unexpected costs, which can affect every owner in the association. When a major claim occurs, the association's master policy does not always cover everything. This is where loss assessment coverage comes into play.   What is Loss Assessment Coverage for HOA? Loss assessment coverage is a type of protection found in a homeowner's individual insurance policy. It helps pay a homeowner's…
Denise
May 6, 2026
HOA Insurance

What Is Fidelity Insurance? Why Does Every HOA Need It?

What is fidelity insurance? An essential form of insurance, fidelity insurance protects the association from financial strain as a result of dishonest acts. Often required by law, this policy offers several benefits, making it imperative for association boards to obtain one.   What is Fidelity Insurance? Fidelity insurance is a policy that protects an HOA or condominium from direct financial losses resulting from dishonest acts by board members, community managers, and employees. Dishonest acts include theft, embezzlement, and forgery. Also…
Denise
April 8, 2026
HOA Insurance

HOA Insurance Claim Process: From Damage Report To Settlement

Managing community damage can feel overwhelming, especially when HOA insurance claims are involved. Boards often face pressure from owners, vendors, and insurers simultaneously. A clear understanding of the process can help reduce stress and avoid costly mistakes. Board members can then navigate claims more smoothly.   What are HOA Insurance Claims? Homeowners association insurance claims refer to formal requests that an HOA submits to its insurance carrier after covered damage or loss. These claims allow the association to recover funds…
Denise
February 25, 2026
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,…
Azalea
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…
Azalea
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 a homeowners association from…
Azalea
July 21, 2018