Connect insurance to the operation
Condominium and homeowners association insurance should begin with the governing documents, ownership boundaries, replacement-cost valuation, common property, amenities, board responsibilities, employees, vendors, reserves, deductibles, and catastrophe exposure. The association policy is distinct from the insurance purchased by individual unit or home owners. Association-focused protection for shared buildings, common areas, boards, employees, reserves, crime, catastrophe, and community operations.
Frequent incident prevention
Review the current operation, credible loss scenarios, management controls, contracts, requested limits, and the policy terms intended to address this issue.
Severe-loss controls
Review the current operation, credible loss scenarios, management controls, contracts, requested limits, and the policy terms intended to address this issue.
Management review and corrective action
Review the current operation, credible loss scenarios, management controls, contracts, requested limits, and the policy terms intended to address this issue.
Risks that deserve specific attention
Wind, fire, water, flood, equipment, roof, exterior, and common-area property loss
Describe where the exposure occurs, who controls it, how frequently it arises, what could make a loss severe, and which documented controls are in place.
Board decisions, elections, enforcement, discrimination, employment, crime, and fidelity allegations
Describe where the exposure occurs, who controls it, how frequently it arises, what could make a loss severe, and which documented controls are in place.
Resident or visitor injury, pools, clubhouses, gates, elevators, contractors, and catastrophe assessments
Describe where the exposure occurs, who controls it, how frequently it arises, what could make a loss severe, and which documented controls are in place.
Coverage areas to coordinate
Association property, ordinance or law, equipment breakdown, and business income or extra expense where applicable
Confirm limits, deductibles, covered entities, locations, operations, exclusions, endorsements, and how this protection coordinates with the rest of the program.
General liability, directors and officers liability, crime or fidelity, cyber, and umbrella or excess
Confirm limits, deductibles, covered entities, locations, operations, exclusions, endorsements, and how this protection coordinates with the rest of the program.
Workers' compensation, EPLI, commercial auto, flood, and catastrophe deductibles or limits where available
Confirm limits, deductibles, covered entities, locations, operations, exclusions, endorsements, and how this protection coordinates with the rest of the program.
Build a useful submission
- Describe every operation, ownership entity, location, service, customer type, and material change since the prior policy began.
- Provide current revenue, payroll, values, vehicles, equipment, contracts, and currently valued loss information when available.
- Explain significant claims, near misses, corrective action, safety procedures, training, maintenance, and management oversight.
- Identify requested effective dates, contract deadlines, lender or landlord requirements, desired limits, and deductible preferences.
Questions the review should answer
How will the program address wind, fire, water, flood, equipment, roof, exterior, and common-area property loss?
Connect the answer to the appropriate policy, limit, deductible, endorsement, exclusion, operational control, and recovery plan.
How will the program address board decisions, elections, enforcement, discrimination, employment, crime, and fidelity allegations?
Connect the answer to the appropriate policy, limit, deductible, endorsement, exclusion, operational control, and recovery plan.
How will the program address resident or visitor injury, pools, clubhouses, gates, elevators, contractors, and catastrophe assessments?
Connect the answer to the appropriate policy, limit, deductible, endorsement, exclusion, operational control, and recovery plan.
Frequently asked questions
What information helps prepare a Condominium & HOA Associations insurance loss-control priorities review?
Start with a clear description of the operation, locations, ownership, revenue, payroll, property, vehicles, contracts, current insurance, and loss history. For condominium & hoa associations, pay particular attention to wind, fire, water, flood, equipment, roof, exterior, and common-area property loss, board decisions, elections, enforcement, discrimination, employment, crime, and fidelity allegations, resident or visitor injury, pools, clubhouses, gates, elevators, contractors, and catastrophe assessments.
Which policies commonly deserve attention for condominium & hoa associations?
The starting coverage areas include association property, ordinance or law, equipment breakdown, and business income or extra expense where applicable, general liability, directors and officers liability, crime or fidelity, cyber, and umbrella or excess, workers' compensation, epli, commercial auto, flood, and catastrophe deductibles or limits where available. Actual needs depend on the operation, contracts, locations, people, property, vehicles, services, and available market terms.
Coverage descriptions are general. Eligibility, availability, limits, deductibles, valuation, exclusions, and policy terms vary by operation and insurance market. Actual policy documents control.