Homeowners & Condo Associations 

Associations

Condominium Associations come in all kinds of types and sizes.  These are Office Condominiums, Retail Condominiums, Resendential Condominiums and a mix of residential and business.  A complex policy is needed to properly protect an Association.  It might be accomplish thorugh a single comprehensie package policy or by bundling several different policies, from various insurance companies. 

Condo Associations

A master policy provides coverage for the buildings and common areas including hallways, elevators, sidewalks, roof , pool and recreational areas including Association owned equipment and equipment that services the buildings.  The joint ownership aspect of a condominium is what requires protection under A Condominium Association Policy

BBBasic Coverages to Consider in a Condo Assocition Policy

Crime & Fidelity

Provides coverage for theft or loss of Association funds due to financial misconduct.

Liability

Protects the Association for actions brought against them for Bodily injury or property damage as a result of negligence or alleged negligence. It can also cover the Association in the event of an injury or accident which occurs on or adjacent to the property

Workers Compensation

Protects the Association from the cost associated with the injury of an employees while working for or on behalf of the association including subcontractors or other persons working for the Association or conducting Association business who are injured and without coverage

Flood Policy

Protects the Association from damage to Association buildings and property caused by flood.

Booiler and Machinery

This covers Associations equipment that services the building and its features such as elevators

Umbrella Coverage

Provides additional layers of liability and defense cost protection for the Association allowing higher limits at a very reasonable cost.

Cyber Liability

Protects the Association against suit brought against it for failure to take appropriate action or make proper decisions to protect the private information of the Association or its members or associates

Directors and Officers

Provides protection for the directors and officers of the Association for their roles and decisions made if they are sued in conjunction with their action or inaction while operating in the capacity of an officer of the Association