Condo Association Management Blog

Condo Association Insurance - Is Your HOA Covered For This?

  

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Here are some standard inquiries when reviewing an condo association insurance or HOA insurance proposal:

Are you covered for:

1. Alleged race, age, family status or handicapped/disabled discrimination claims.
2. Failure to provide essential services causing damage to a unit.
3. Wrongful removal of a resident's personal property from the common elements.
4. Towing an owner's vehicle.
5. Liability when a dog attacks another resident or guest.
6. Damages for a crime committed against another person or their property.
7. Mold claims.
8. Failure to obtain or maintain proper insurance coverage or timely file a claim.
9. Damage to a vehicle parked in the garage from leaking water, or being struck by the garage door or security gate.
10. For failure to diligently respond for a request for records or closing documents.
11. Wrongful eviction.
12. Sexual harassment.
13. Actions by local government for code/ordinance enforcement.
14. Theft, embezzlement, misappropriation of funds, abuse of discretion.
15. Not following proper procedure such as collecting a special assessment or running an election.
16. Non-monetary actions such as injunctions.
17. Liable, slander, invasion of privacy.
18. Failure to provide essential maintenance to the common areas.
19. Vandalism or property damage caused by outsiders or trespassers.
20. Permitting a sex offender or other felon from residing on the property.
21. Injury of a volunteer while performing a service for the association.
22. Injury to a self-employed sole proprietor performing services for the association.

Learn more about how HOA Loans can help your association