HOA Insurance Policies
For residents and HOA board members, there seems to be a lot of lingo when it comes to insurance. How do you know which policies cover which property? How do you know what insurance requirements to make when managing an association? We’ve explained the “walls out” and “walls in” policies to help you understand what […]
Insurance: Walls-in vs Walls-out
It’s a great idea to review insurance policies occasionally. If you’re considering changing your HOA homeowners insurance you’ll want to keep in mind what kind of coverage you need. For most types of HOAs where there are shared walls and common spaces, you will need to understand how the HOAs master insurance affects your property. […]
Understanding Insurance in an HOA
If your home insurance is something you plan on changing this year, it is important to understand what the HOA’s master policy covers vs what your policy needs to cover. There are two different types of coverages that may be in place within your HOA. WALLS IN The first policy is a known as “studs […]
Insurance: So Why Does the Association Have to File a Claim?
There are few things trickier and more complicated in the operation of a community association than that of insurance. What types of policies must the association have? What is the scope of coverage? How does the “master policy” work with the individual homeowner’s policy (“HO6”)? There are many components and questions. Perhaps the most seldom […]