Having to care for a homeowners’ association puts many people and much property under your responsibility. For those involved, your HOA is their home, their workplace or both, so it can be devastating for anyone affected should problems arise. In order to be able to properly handle the situation and risks involved, wholesale HOA insurance can cover numerous parts of your association, from the property, legal fees, employees and more.
Consider what your HOA may be at risk at, and look for coverage that can handle most or all of these dangers.

What Insurance Policies Should You Get?

The benefits of acquiring a wholesale HOA insurance program is that it is a sort of package including a variety of necessary policies. While you may have some unique problems for your particular HOA, these can often time be added on along with a wholesale plan. When it comes to coverage that most associations are going to need due to the likelihood of facing these risks, many programs may include some or most of the following policies.

Property (owned by the association)
General Liability
Directors and Officers (D&O)
Errors and Omissions (E&O)
Workers Compensation
Employment Practices Liability (EPL)
Crime Liability
Equipment Breakdown
Cyber Liability
Natural Disaster (such as earthquake or flood coverage)

The costs that can be covered by a wholesale HOA insurance program include paying for repairs or replacements, medical bills, legal fees such as for representation and settlement, and more. As these can be financially difficult to pay out of pocket, it’s safe to have insurance coverage.