Community associations and HOAs have a lot on their plate: lawns to mow, fees to collect, feuds to tamp down. If they succeed, property values climb and people feel safe. If they fail, property values falter and neighborhood bonds fray. The health of a community association often depends on three critical factors: governing documents, neighborhood […]
Two words explain why community associations and HOAs need cyber insurance — motive and opportunity. Motive — HOAs store valuable private data that may encourage cybercriminals: Full names and addresses Bank account numbers Social Security and driver’s license numbers Makes and models of cars Property values Opportunity — HOA leaders may have limited financial resources, […]
In recent years, homeowners associations, have taken on a much more important role in the U.S. housing market. This fact makes it all the more vital that HOA leaders have the best financial and organizational tools at their disposal. By working with an insurance partner that understands their business on a deeper level, HOAs and […]
Community associations are tasked with keeping residential areas well cared for and safe, managing routine maintenance and watching out for the security of the subdivision or building. A homeowners association insurance policy is an important part of fulfilling that responsibility. Though you may be confident that your association’s directors and officers are diligent about fulfilling […]
When you are aware of the greatest risks to your condo association, you can act to protect the investments you and your neighbors have made in your homes.
Although homeowners associations bring many benefits for occupants to share a larger property, they can come with some risks. Brokers and agents writing homeowners association insurance policies should work with these boards of directors to ensure they have implemented the proper policies to accurately assess the potential risks to the HOAs. In addition, it’s crucial to […]