Board Members

A homeowners’ association or HOA elects board of directors for proper management of the community. Board members are responsible for enforcing policies of the association related to property maintenance, administrative functions, repair problems and other key issues. They also make the annual budgets for insurance coverage of the association.

A board is successful when the residents of the HOA are happy with the boards’ decisions. If you are a Board Member looking for a suitable HOA/Condo insurance policy, we can help. We specialize in insurance for Homeowners’ & Condo Associations. We will help you select the correct policies that are “Targeted for your association.” We will make sure you get the right types of policies with proper coverage. We are passionate about our work and help community managers and board members make informed decisions.

Things You Must Know About HOA Insurance Policy Make sure your association has the following policies to adequately protect you and the association (click on the policy type below to view a sample of that policies):

We want you to make informed decision and hence we update and inform you about:

  • Insurance terms & conditions
  • Various components of association policies
  • Roles and responsibilities of board members
  • How to deal with residents and make them aware of their duties
  • How to deal with careless board members
  • Checklist of HOA insurance policies
  • Check list of Unit Owners insurance policy
  • Rules, Regulations and Laws concerning HOA
  • Information about the important laws in Nevada and Utah
  • D & O policies, Condo policies and HOA policies

Understanding D&O Coverage

Directors’ and Officers’ Professional liability insurance is probably the most misunderstood policy an association will purchase. This policy differs more than any other policy from one insurance company to the other. It is very important to have the protection you need at time of claim. If you have packaged your D&O with your liability, chances are you will have several exclusions (holes) in your policy. If your annual premium is less than $750 for your D&O coverage, chances are you are missing out on vital coverage. if your policy does not have the below items, then you need to talk to us:

  • “Insured” includes the association, volunteers, directors, officers (past present & future)
  • Defense costs outside of limits
  • Managers/management companies
  • Non-monetary damages
  • Breach of contract
  • Spousal liability
  • Failure to maintain insurance
  • Punitive damages
  • Insured vs. insured
  • Contractual liability
  • Full prior acts

Let The Insurance Center help you protect yourself while you are fulfilling your duty sitting on the board. It is better to find out now that your coverage is inferior, then after a claim. We will walk you through the steps necessary to get your properly covered.

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