Condo & HOA associations
Condo & HOA Association Insurance
Master property, liability, board D&O, fidelity and umbrella for condominium, homeowners and co-op associations — one agency, one submission, multiple carriers.
A condo or HOA association must insure the buildings and common elements its declaration assigns to it, its liability for injuries in common areas, its volunteer board's decisions, the reserve and operating funds it holds, and catastrophic claims above those limits. One agency should handle all of it because the five policies have to fit together — a gap or overlap between them is where uncovered claims and lender rejections come from.
The five policies every association needs
Master property policy
The master policy insures the building structure, common elements and shared systems — roofs, façades, hallways, mechanicals, clubhouses — and, depending on the declaration, some or all of the unit interiors. Lenders and the Fannie Mae and Freddie Mac selling guides expect full replacement cost with deductibles inside their limits, and the bylaws normally direct the board to carry it. The common gap is a stale valuation: a building insured below today's construction cost triggers coinsurance penalties or leaves owners facing a special assessment after a large loss, and wind, water and named-storm deductibles that have crept up can exceed what the reserves can actually fund.
More on master property policyGeneral liability
General liability responds when a resident, guest or vendor is injured in a common area — a fall on an icy walkway, a pool incident, a garage door that strikes a car — or when the association damages someone else's property. Lenders and management agreements require it, usually at $1M per occurrence, and most declarations require the board to carry it for the benefit of all owners. The common gap is amenities that were never scheduled: a new fitness room, a dog park, a marina slip or a rented-out clubhouse that the policy does not contemplate, or a contract with a vendor who carries no insurance of its own.
More on general liabilityDirectors & officers (board liability)
Directors and officers coverage defends the volunteer board and the association against claims that a decision was wrong — an architectural denial, a fine, an assessment, a contract award, a dispute over reserves or alleged discrimination in enforcing rules. Few lenders require it, but the bylaws often indemnify board members, and without D&O that indemnity is paid out of owners' money. Management companies frequently insist on it before they will sign. The common gap is a policy written for businesses rather than associations, which can exclude non-monetary claims, property-manager coverage, or fair-housing allegations that make up much of association litigation.
More on directors & officers (board liability)Crime / fidelity coverage
Fidelity or crime coverage replaces association money stolen by a board member, an employee or the management company — the operating account, the reserves, or assessments in transit. Fannie Mae and Freddie Mac require fidelity coverage for many condominium projects whose unit loans they purchase, and most management contracts and governing documents expect it as well. The common gap is a limit set years ago that no longer matches the reserve balance, or a policy that does not name the management company as a covered party, so the largest single source of association theft is left outside the coverage.
More on crime / fidelity coverageUmbrella
An umbrella or excess liability policy sits above general liability, D&O (where the form allows) and auto, and pays once those limits are exhausted. Serious injury claims — a drowning, a balcony collapse, a parking-garage assault — can exceed $1M quickly, and many management companies and larger buildings set $5M to $25M in total liability as a working standard. Lenders rarely mandate it, but boards are personally exposed when they are not. The common gap is an umbrella that does not follow form over every underlying policy, or a schedule of underlying limits that no longer matches what the association actually carries.
More on umbrellaWhy boards and managers choose Provident Financial Group
Multiple carriers from one submission
Your board fills out one application. Association carriers quoted through our agency include Philadelphia Insurance Companies, Travelers, The Hartford, Great American, USLI and Markel, and we take your submission to the ones whose appetite fits your building.
We show you which carriers declined and why
A board deciding on a renewal deserves to know the whole market, not just the quote that came back. We report every declination with the underwriter's stated reason, so you know whether the issue was the roof, the loss history, the valuation or the location.
Live Certificates so lender requests never hold up a closing
Boards, managers and unit owners can retrieve evidence-of-insurance certificates on demand, including lender certificates for unit sales and refinances.
One agency for policies and fidelity bonds
Master property, liability, D&O, crime/fidelity, umbrella and any required bonds placed and serviced in one place, so limits, named insureds and renewal dates line up.
What we need to quote
- Unit count
- Building type and year built
- Property schedule (buildings, values, amenities)
- Current declarations pages for every policy
- Three to five years of loss runs
- Your renewal date
Association quotes are prepared by a person, not generated instantly. A licensed agent reviews your documents, builds the submission and takes it to the carriers whose appetite fits — typically within two business days we will follow up with next steps, and quotes follow as underwriters respond.
Coverage guides and resources
Master Policy
The master policy is the building-level insurance the association carries for the structure, common elements, and its own liability, funded collectively through assessments.
Directors & Officers
D&O insurance defends volunteer board members against claims over governance decisions, which is a different exposure than the commercial D&O forms built for corporate officers.
Fidelity & Crime
Fidelity coverage protects association funds from theft by board members or the management company, and a broader crime policy adds protection against computer fraud and outside theft on top of that same core protection.
Umbrella
An umbrella policy adds a layer of liability protection above the association's general liability and D&O limits for catastrophic claims that exceed the underlying policies.
General Liability
General liability responds to third-party injury and property damage claims on common areas, from a slip on an icy walkway to a contractor's mishap during landscaping.
Lender Certificates
Lenders financing a unit sale or refinance need current evidence of the association's master policy, fidelity coverage, and flood insurance where applicable, and a slow certificate can stall a closing.
Condo vs. HOA Insurance
What the association insures and what the owner insures separately depends on the type of community and the specific allocation language written into the declaration.
For Board Members
Serving on a condo or HOA board carries personal exposure that the association's D&O policy narrows but never eliminates entirely.
For Management Companies
Provident Financial Group works with property managers to place and coordinate coverage across an entire book of associations, not just one policy at a time.
Association insurance by state
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Frequently asked questions
Get association quotes
Association quotes are prepared by a person, typically within two business days — not instantly. Prefer to talk? Call (866) 964-6660.