Community Association Insurance in Virginia

Virginia at a glance

Condominium statute

Va. Code 55.1-1900, Condominium Act

Explicitly requires replacement-cost property insurance and CGL coverage.

HOA statute

Va. Code 55.1-1800, Property Owners' Association Act

Requires resale disclosure packet including insurance and reserve information.

Coastal exposure

Hampton Roads/Virginia Beach face hurricane wind and recurrent tidal flooding

Sea-level-rise trends affect flood-zone mapping for coastal associations.

Primary insurance regulator

Virginia State Corporation Commission Bureau of Insurance

Confirm current filing and licensing guidance directly with the bureau.

Condominium Act insurance mandate

Virginia's Condominium Act, Va. Code 55.1-1900 et seq., requires the unit owners' association to maintain property insurance on the condominium at full insurable replacement cost and to carry commercial general liability coverage, one of the more explicit statutory insurance mandates among the states in this comparison. That statutory floor still leaves the all-in versus bare-walls allocation question to the declaration, so a Virginia condominium submission should confirm which standard the specific declaration uses.

Property Owners' Association Act disclosure

The Property Owners' Association Act, Va. Code 55.1-1800 et seq., governs Virginia's homeowners associations and requires a disclosure packet for resales that includes information about the association's insurance coverage, reserve study status, and assessment history. Virginia doesn't mandate property insurance for POA-governed associations with the same statutory specificity as the Condominium Act, so an HOA's actual coverage commitment is typically set out in its own declaration and bylaws rather than a statewide floor.

Reserve studies and disclosure practice

Both Virginia acts encourage or require reserve-study disclosure to prospective buyers, and while the state hasn't adopted a rigid post-Surfside structural reserve mandate, underwriters increasingly treat a current reserve study as a meaningful factor in pricing a Virginia association's master property renewal, particularly for older condominium conversions in Northern Virginia and Richmond.

Hampton Roads coastal and inland storm exposure

Virginia Beach, Norfolk, and the broader Hampton Roads region face hurricane wind risk plus one of the mid-Atlantic's more pronounced sea-level-rise and recurrent tidal-flooding profiles, which affects both flood-zone mapping and master property valuation for coastal condominiums and HOAs. Inland Virginia associations in the Piedmont and Shenandoah Valley instead see more frequent severe-thunderstorm wind and hail losses along with occasional winter ice-storm damage.

Who we write this for in Virginia

Community association FAQs for Virginia