Homeowners Associations Insurance

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Homeowners Associations Quote Form
Homeowner association (HOA) members pay monthly membership fees. These fees pay for maintenance and renovations to common areas and a collective insurance policy known as a master policy. This master policy helps pay for accidental property damage to shared spaces, such as lobbies, pools, rooftops and patios. 

What Other Insurance Does an HOA Need?

Master policies don’t always cover all homeowner association insurance needs. Sometimes additional coverage is needed. The proven and experienced staff at McKinney Insurance Services can help you navigate the complexities of HOA coverage to ensure you have all the protection your community needs. 

Additional insurance you may want to consider that can provide valuable coverage for unforeseen events include: 
Employee dishonesty—Protects against several kinds of theft, fraud and embezzlement by HOA employees or officers 
Comprehensive equipment coverage—Provides coverage for damages or loss caused by the sudden mechanical breakdown (e.g., a leaky water heater that’s causing water damage)  
Comprehensive general liability (CGL)—Provides coverage to any location where an HOA function or meeting occurs 
Director’s and officer’s liability—Protects the HOA if it is sued for misappropriated funds or officer negligence 
Discrimination coverage—Protects HOAs from evicted parties who claim discrimination because of class 
Workers’ compensation—Associations may not believe they have any actual employees, but workers’ compensation should still be reviewed and added—some workers may try to claim an HOA as their employer.

There are a number of amenities that come with living in a condominium. Well-kept grounds, a sparkling pool, perhaps even a state-of-the-art fitness center are just some of the amenities residents can enjoy – if the funds are in place. The Homeowners Association regulates maintenance fees and is charged with the upkeep of the property.

At McKinney Insurance Services we offer homeowners association coverage that can address key concerns, including:
· Property liability
· Fire protection
· Pollutant clean up
· Vandalism

Even properly managed HOAs don’t always have the necessary insurance coverage. As a community member, you should know what insurance coverage your homeowners association has so you can ensure your property is protected against all types of loss. 

How We Can Help

Navigating HOA coverage is challenging without the right partner. At McKinney Insurance Services, our dedicated agents can help you get the exact insurance your association needs to protect your community. Call us today at 800-684-5020 to get your personalized quote.