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THE IMPORTANCE OF HOA
INSURANCE
When an accident or unexpected damage occurs on homeowners' association
(HOA) property, HOA insurance coverage is more important than ever. A
comprehensive insurance policy means your association and residents are
financially protected and there is less downtime for the community.
For example, your association can file an insurance claim to cover expenses when
someone suffers an injury in a shared space or if a fire damages community
property. Filing your claim correctly will help maximize your HOA insurance benefits
and speed up the claims process.
As a trusted industry leader, Associa has supported thriving communities for
decades. We work with board members to help them protect their associations
and take the right steps when handling insurance claims. Insurance policies
may provide different levels of coverage for each unique association, so no two
communities may be exactly alike. While all insurance carriers and agents may
process claims a little differently, here, Jeremy Day, senior sales executive for
Associations Insurance Agency, Inc., shares a step-by-step guide on what typically
happens when filing an HOA insurance claim.
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