Condo and HOA Association Insurance

Running a condo or homeowners association means protecting a shared community, and the people who make decisions for it. The right association insurance covers the buildings and common areas, the board members who serve, and the money the association holds. Do Right Insurance compares 15+ carriers to build coverage that fits your community, at competitive pricing.

Coverage for associations

• Property: the buildings and common areas, such as clubhouses, pools, roofs and shared structures
• General liability: injuries and damage on common property
• Directors and officers (D&O): protection for board members against claims over their decisions
• Fidelity and crime: losses from theft or fraud involving the people who handle association funds
• Umbrella: extra liability limits above your other policies
• Equipment breakdown, flood and earthquake, which are usually separate coverages
• Workers’ compensation, if the association has employees

Condo associations and HOAs are different

In a condo community, the association typically insures the building structure under a master policy, while owners insure their unit interiors and belongings with their own policy. In a homeowners association of single-family homes, the association usually insures the common areas, such as entrances, parks, pools and clubhouses, while each owner insures their own house. Your governing documents spell out who insures what. We read them with you.

What boards should know

• Your governing documents set requirements. Your CC&Rs and bylaws often require certain coverages and limits.
• Lenders set requirements too, for owners who finance a condo.
• Limits that are too low are costly. A policy that doesn’t match current rebuilding costs can leave the association and its owners paying the difference.
• Board members can be personally targeted. D&O coverage exists for this reason.

What affects your price

• The age, construction and size of the buildings, and the number of units
• The community’s amenities, such as pools, clubhouses and gyms
• Your claims history and location
• The coverage limits and deductibles you choose
• The carrier, which is why comparing matters

How we work

1. We review your governing documents and your current policies.
2. We look for gaps and tell you plainly where you stand.
3. We take your risks to the markets that write associations and compare the results.
4. We explain your options so your board can decide with confidence.

What we need for a quote

• The association’s name and address, and the number of units and buildings
• The year built and construction type
• A list of amenities
• Your current policies and recent claims history
• Your management company’s contact, if you have one

Common questions

Does the association’s policy cover my unit?

Usually it covers the structure, not your belongings or interior upgrades, depending on your governing documents. Unit owners generally need their own policy, and we write those too.

How often should we review our coverage?

Every year at renewal, and any time you add buildings or amenities, or rebuilding costs change.

Can you work with our management company?

Yes. We’re happy to work with your management company.

Talk to an agent

Call 801-352-7100 or request a quote online.