Category: Community Associations

  • What should an HOA board look for in an insurance program?

    Boards make insurance decisions on behalf of their neighbors.

    The short version

    Look at the whole program together: property, liability, directors and officers, crime, cyber, workers’ compensation and umbrella, compared with your governing documents and Florida requirements.

    What to know

    • Hurricane deductibles are often a percentage of the insured value, so ask what that is in dollars
    • Property valuations can go out of date
    • Crime coverage limits should reflect the money the association holds

    Questions to ask

    • When was our last insurance valuation?
    • Does our program meet our documents?
    • What does a major hurricane mean for owners financially?

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    General information only. Actual coverage depends on your policy, and coverage is not in force until confirmed in writing by the agency.