Commercial Property
Rebuilds the shared buildings and common elements after a covered loss, typically at replacement cost rather than depreciated value. Equipment breakdown for shared boilers, elevators and HVAC can be written alongside it.
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 under a standard form the carrier defends the association as well.
Umbrella / Excess Liability
Sits above the primary liability limits, for the claim that exceeds them. An umbrella generally follows the underlying forms, so what the primary excludes it usually excludes too.
Directors & Officers Liability
Responds when a board member is personally named over a governance decision — defence costs are usually the largest part of it.
Crime and Fidelity
Covers theft of association funds by an employee or volunteer, and — where the form is extended for it — by a third party. Lender guidelines commonly set a minimum limit against the funds you hold.
Ordinance or Law
Meets the extra cost of rebuilding to today's code after a covered loss, when the original construction no longer complies. It is bought in parts, each with its own limit, and matters most in older buildings.
Workers compensation and earthquake are available separately, and are quoted alongside the program where an association needs them. Carrier availability varies by state, association type and risk profile, and coverage is subject to underwriting, policy terms, and eligibility.
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.
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Where the master policy and HO-6 meet
Bare-walls, single-entity and all-in forms allocate unit property differently. The issued policy, endorsements and governing documents determine which arrangement applies.
| Master policy type | The association covers | Common unit-owner gap | Owner carries |
|---|---|---|---|
| Bare walls | Structure and common elements | Typically excludes unit interiors; the policy and governing documents control | Most |
| Single entity | Structure, common elements, and usually original fixtures and finishes | Typically excludes improvements added by an owner | Some |
| All-in | Structure, common elements, original finishes and usually owner improvements | Typically excludes belongings and personal liability | Least |
The deductible
A deductible may apply per occurrence or per unit. Whether any amount can be allocated to an owner depends on the policy, governing documents, applicable law, allocation provisions and the facts of the loss.
Loss assessment
An association may be able to assess certain deductibles or shortfalls to owners. HO-6 loss-assessment coverage may respond when the cause and assessment are covered, subject to its own terms and limit.
Plenty of boards could not say 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 arrangement. It can cover belongings, personal liability, loss assessment and portions of the unit outside the master policy. The issued master policy and governing documents determine how the two fit together.
A lender may require HO-6 coverage based on the loan type and project requirements.
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Loss assessment
May respond when an association validly assesses a covered deductible or shortfall to owners, subject to the HO-6 terms and limit.
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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
Coverage for these causes of loss is not automatically included and depends on the form and endorsements.
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Personal property
Belongings — written at replacement cost rather than depreciated value where the form is endorsed for it.
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Personal liability and umbrella
Reviewed alongside the association's liability limits and the owner's broader exposures.
We place both policies and set out in writing how the available documents and forms allocate responsibility before a loss occurs.
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 and generally addresses shared buildings, common elements, association liability and other association exposures. An HO-6 can cover belongings, personal liability, loss assessment and portions of a unit outside the master policy. The boundary depends on the master-policy form, governing documents, applicable law and endorsements.
Who pays for the HOA master policy?
The association purchases the master policy and generally funds its premium through member assessments. The association is the named insured; claim procedures depend on the policy and the loss. An owner's HO-6 is a separate policy paid for by that owner.
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.
Contact Us Today
sales@ProtectMyHOA.com
New business and quote requests
New business and quote requests
HOA Insurance Agency LLC
420 Lakeside Ave, Suite 202
Marlborough, MA 01752
420 Lakeside Ave, Suite 202
Marlborough, MA 01752
Claims and urgent matters
Claims go to insurance@ProtectMyHOA.com, the mailbox for general enquiries, service and claims. Notifying us does not replace any notice your policy requires you to give the carrier. If a deadline is close, call rather than email.