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HOA Resource Center

Most Recent Items

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Do You Know Your Insurance Coverage?

Many board members know they have insurance in place but do you know what it really insures? Some of the most common surprises about insurance coverage are: Your umbrella policy may not apply to claims under your Directors & Officers policy; An entire building that is vacant for 60 days or more Read More...
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Maintenance and Insurance Charts

An association’s maintenance and insurance obligations are typically set forth in the association’s declarations of covenants.  However, in many instances, simply reading the maintenance and insurance provisions of the declaration will not give boards and managers clear answers.   Often times Read More...
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Insurance - Are You Adequately Insured?

Whether it's a slip and fall in the community or an upset owner who did not get his architectural request approved, there are numerous situations that can lead to the filing of legal action against an association.  And if such association is not adequately insured, a legal action could literally ba Read More...
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Why An Association Needs Workers' Compensation Insurance

If an association has any employees, it is required to carry workers' compensation insurance.  The amount of the premium is generally determined by the total employee payroll.  Generally, independent contractors and non-compensated volunteers of associations are not considered employees for purpos Read More...
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But We Don’t Live By the Water…Common Misconceptions of the National Flood Insurance Program

Many people living in common interest communities don’t consider flood insurance a priority.  Some believe their individual homeowners insurance or the insurance policy carried by the homeowners’ association will cover flood damage.  Unfortunately, these common misconceptions can leave a homeo Read More...
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Understanding Homeowner Association Insurance

MASTER POLICY State laws pertaining to condominiums and most project legal documents creating condominiums require the association to carry a master insurance policy covering the entire project including the individual units. This is the only approach to insurance that makes any sense in a high ris Read More...
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What is Ordinance and Law Coverage and Why Associations Need It

Homeowner associations are commonly required by their governing documents to insure common element structures.  This is especially true for condominiums where the association insures the majority of the building structures.   With the passage of time, building codes and ordinances change to refle Read More...
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Anatomy of a D&O Policy

INTRODUCTION An effective D&O loss prevention program for a non-profit association may accomplish numerous objectives, including: * Reducing the liability exposure not only of the directors and officers, but also the association to the extent the association may indemnify losses incurred by Read More...

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