Commercial Property
Rebuilds the shared buildings and common elements after a covered loss, at replacement cost rather than depreciated value. Includes equipment breakdown for shared boilers, elevators and HVAC.
ProtectMyHOA™
HOA Insurance
Master insurance for the association, HO-6 for the unit owner, and a written record of why each was placed the way it was.
The master policy
What is an HOA master policy?
It is the association's own insurance, funded through member assessments rather than by any individual owner. It responds to the shared buildings and common elements, the association's liability, the funds it holds, and the decisions its board makes.
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The shared buildings
Roofs, structure, common elements and the shared systems inside them.
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The association's liability
Claims arising from the common areas and from the association's operations.
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The funds it holds
Reserves and operating accounts, against theft and fraud.
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The decisions its board makes
Allegations about governance, enforcement and the choices trustees make.
What it does not do is cover the inside of an individual unit. That is what an HO-6 is for, and where the two policies meet is set by your governing documents.
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Coverage
Key master policy coverages
Six coverages placed as one program, so the limits and deductibles agree with each other rather than being bought in isolation.
General Liability
Responds when someone is hurt on common property, and pays the cost of defending the association.
Umbrella / Excess Liability
Sits above the primary liability limits, for the claim that exceeds them.
Directors & Officers Liability
Defends board members personally when a decision they made is challenged.
Crime and Fidelity
Covers theft of association funds, whether by an employee, a volunteer or a third party. Lenders set a minimum limit based on the funds you hold.
Ordinance or Law
Pays the extra cost of rebuilding to today's code when the original construction no longer complies, which matters most in older buildings.
Workers compensation and earthquake are available separately, and are quoted alongside the program where an association needs them.
Review My Six Coverages See which of the six your association is missing.
What we find
Common HOA insurance issues
Six conditions we identify most often on a first review of an association's master policy. None of them are unusual, and each can be verified before a claim rather than after one.
01 Underinsured buildings
The building limit was set years ago and construction costs have risen since. A total loss would not rebuild the property.
02 Stale replacement-cost figures
The valuation on file predates the last renewal, so every limit derived from it is out of date as well.
03 Per-unit deductibles nobody has read
The master policy applies a deductible to each unit. Owners discover the amount when they file a claim, not before.
04 Missing fidelity bond limits
The bond is in force, but the limit does not reflect the funds the association actually holds.
05 Lender warrantability failures
Something in the coverage places the project outside lender guidelines, and an owner discovers it at closing.
06 Gaps between master and HO-6
Both policies are in force, and neither responds to the loss the association is looking at.
We identify which of the six apply to your association, and put the findings in writing.
Request Insurance ReviewWho pays
Where the master policy stops
Three structures, and your governing documents determine which one applies. It is the single most consequential detail in the policy, because it decides who pays for what after a loss.
| Master policy type | The association covers | It stops at | Owner carries |
|---|---|---|---|
| Bare walls | Structure and common elements only | Everything inside the unit is the owner's, including original fixtures and finishes | Most |
| Single entity | Structure, common elements, and the original fixtures and finishes | Improvements an owner has made since are the owner's | Some |
| All-in | Structure, common elements, original finishes and owner improvements | Personal property and personal liability remain the owner's | Least |
The deductible
Written per occurrence or per unit. Where it applies per unit, a single water loss can leave one owner responsible for the full deductible on their own unit.
Loss assessment
Where a loss falls below the deductible or above the limit, the shortfall can be assessed to owners. Loss assessment cover on an HO-6 responds to it, and the limit carried is usually well below what an assessment would be.
Most boards do not know which of the three their association carries. It is stated in the governing documents, and we identify it on every review.
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Unit owners
HO-6 add-on coverage
HO-6 is the owner's side of the same arrangement. It covers what the master policy leaves at the unit door, and it should be written against your association's actual master policy rather than a generic template.
Where the master policy carries a per-unit deductible, a lender will now require an HO-6.
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Loss assessment
Your share when the association passes a deductible or a shortfall on to owners.
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Coverage A for improvements
The finishes and fixtures inside your unit, at a limit that reflects what is actually there.
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Water backup and seepage
The most common interior loss in a multi-unit building, and not automatically included.
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Personal property
Belongings, at replacement cost rather than what they would resell for.
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Personal liability and umbrella
Coordinated with the association's own liability limits so the layers do not conflict.
We place both policies, so the gap between them does not fall on an owner.
Request Insurance Review Written against your association's actual master policy.
Who we serve
Who we work with
Four groups, each needing something different from the same placement. Licensed in all 50 states and the District of Columbia.
Boards & trustees
Request a board review >Property managers
Talk to us about a portfolio >Developers & sponsors
Discuss a new project >Unit owners
Get HO-6 coverage > Request Insurance Review Free, no obligation, and no broker fee.
Questions
Frequently Asked Questions
What is the difference between an HOA master policy and an HO-6?
The master policy is the association's insurance. It covers the shared buildings, common elements, the association's liability and the funds it holds. An HO-6 is the unit owner's own policy, covering interior finishes, belongings, personal liability and loss assessment. Where one ends and the other begins is set by the governing documents.
Who pays for the HOA master policy?
The association does, funded through member assessments. Every owner contributes to it indirectly, but no individual owner holds the policy or files on it. An owner's own HO-6 is separate and paid for directly.
What should a board review at renewal?
Building valuation and limit adequacy, the deductible structure including any per-unit deductible, ordinance or law limits, general liability, umbrella, D&O, and the fidelity bond limit against the funds held. We review each of these and set out the findings in writing.
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Claims and urgent matters
Notifying us does not replace any notice your policy requires you to give the carrier. If a deadline is close, call rather than email.