Property & habitational

HOAs & condo associations

Homeowners associations and condominium associations governing shared communities.

Why it needs cover

The exposure

Associations need master property for common elements, D&O for board decisions, GL for common-area injury, and fidelity/crime for reserves. Statutes and lenders set minimum limits.

What we place

Coverages this class usually needs

Master propertyRequired (bylaws/lender)

Common elements/buildingShared structures

Directors & officersOften (bylaws/statute)

Board-decision claimsGovernance exposure

General liabilityRequired (bylaws)

Common-area injuryPools, walkways, amenities

Fidelity / crime bondOften (statute)

Theft of association fundsReserve protection

UmbrellaOften

Excess liabilityAmenity/severity exposure

What it costs

National benchmark premiums

Rated on: Units, replacement cost, and D&O limits

Total annual (typical)

small single-family HOA $2,000-$5,000/yr; small 20-unit condo $3,500-$7,500/yr; mid townhome $10,000-$25,000/yr; large condo/high-rise $50,000-$200,000+/yr

Note

California statutory minimums (Davis-Stirling) commonly require $2M GL (<=100 units) / $3M (>100) and $500K-$1M D&O

Pricing figures are national typical or median ranges for small operators at commonly quoted limits, drawn from the published sources named on each page. They are budgeting benchmarks, not quotes. Your premium depends on state, payroll, revenue, limits, deductible, and loss history.

Sources: Pro Insurance Group; Dream Assurance; FirstService Residential.

When it goes E&S

Where this risk gets hard to place

Wildfire (California), coastal wind, aging high-rise construction, and litigation history routinely push master property and D&O to E&S; post-Surfside scrutiny has tightened habitational underwriting.

Contact

Talk to us about HOAs & condo associations.

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