Homeowners & Condo Associations Insurance
"Protecting Communities. Preserving Home."
Homeowners & Condo Associations Insurance
Protecting communities, boards, and shared property
Homeowners associations and condominium associations face unique risks involving shared property, board decisions, resident interactions, and vendor activity. HOAs and condo associations are responsible for maintaining common areas, enforcing rules, managing finances, and protecting the interests of residents. Claims can arise from property damage, liability incidents, or governance decisions, even when the association is properly managed.
Properly structured insurance is essential to protect the association, the board, and the financial stability of the community.
Key Risks in HOA & Condo Association Operations
Associations face exposure related to:
Injuries in common areas
Property damage to shared buildings
Board and management decisions
Disputes with residents or unit owners
Vendor and contractor activity
Employment-related claims (when staff is present)
Storm, fire, or catastrophic losses
Losses can occur even in well-maintained communities.
Core Coverages for Homeowners & Condo Associations
Association insurance programs typically include:
General Liability — Protects against bodily injury and property damage claims occurring in common areas.
Commercial Property / Association Property — Covers shared buildings, structures, and common elements owned by the association.
Directors & Officers (D&O)Protects board members and officers from claims involving decisions, budgeting, or governance.
Umbrella / Excess Liability — Provides additional limits for severe or multi-claim scenarios.
Workers Compensation (when applicable)Provides coverage if the association has employees such as maintenance or office staff.
Crime / Fidelity Coverage — Protects against theft, fraud, or misuse of association funds.
Commercial Flood / Catastrophe Coverage (when needed)Protects properties located in flood-prone or high-risk areas.
What’s Commonly Overlooked
Association insurance programs are often weakened by:
Incorrect property valuations
Missing ordinance or law coverage
Inadequate D&O limits
No crime or fidelity coverage
Gaps between association and unit owner policies
Failure to meet lender or governing document requirements
These problems are often discovered only after a claim occurs.
Real-World Claim Examples
A resident slips in a common area
Storm damage affects multiple units
A board is sued over a financial decision
Association funds are misused or stolen
A contractor causes damage during repairs
Even one claim can impact association reserves or require special assessments.
Why Proper Placement Matters
Association coverage varies significantly based on:
Type of community
Number of units
Governing documents
State laws and liability standards
Lender requirements
Property values and construction type
Improper placement can lead to uncovered losses or disputes with residents, lenders, or board members.
Our Approach
At Cory Washington & Co., we structure HOA and condo association insurance programs based on how the community is governed, what property is owned, and what responsibilities the association carries. We coordinate property, liability, D&O, and crime coverage to ensure protection aligns with bylaws, lender requirements, and real-world exposure.
Strong communities require strong protection.
Available in all 50 states. See how requirements differ in California, Texas, Florida, New York, or choose your state.