Home Insurance owners Associations (HOA’s)

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Homeowners association (HOA) insurance can help protect you & your association from damages and costs in the event of a lawsuit. Learn more from Skyscraper.

Business Insurance for Homeowners Associations

If you’re on the board of a homeowners association (HOA), you know the challenges of maintaining your community’s high standards — especially when the unexpected happens.

Be sure to ask a Skyscraper Insurance about insurance options for your condominium, townhouse or planned community — and choose the coverage your HOA wants.

Here are just a few ways you can personalize a Skyscraper policy to help manage typical risks:

Risk:

Neighborhood teenagers launch a bottle rocket that lands on your community clubhouse’s roof, setting it ablaze.

Coverage:

Business property insurance ccan help pay for damages to association buildings and common property caused by fires and other unforeseen disasters.

Risk:

The fire department extinguishes a blaze before major damage is done, but floods the patios of several units in the process and damages exterior fixtures.

Coverage:

Condominium property coverage can help when exterior fixtures are damaged.

 

Risk:

A resident’s visiting grandfather is injured when he trips over broken pavement while crossing your complex’s common area.

Coverage:

Business liability insurance can help offset the costs of lawsuits and other claims brought against your association due to injuries sustained on your premises.

 

Risk:

The former treasurer of the board misappropriates a large lump sum right before selling his condo.

Coverage:

Business crime insurance can help cover losses stemming from robbery or a board member’s dishonesty.

 

Skyscraper offers some of the most comprehensive HOA coverage choices

Here are some HOA policy highlights:

  • Building ordinance coverage can help when new or updated regulations increase the cost of repairing or replacing an older building.
  • Skyscraper writes policies for HOAs based on location rather than individual structures. This means multiple buildings can share a single coverage limit — and just one line on insurance forms.

With Skyscraper, you can also customize your policy:

  • Directors and officers liability insurance can help cover costs if lawsuits or dispute claims are filed against an HOA’s board members.
  • A guaranteed replacement cost option might help restore a building to its original condition if costs exceed your policy limit.