The Importance of HOA Insurance

Every Homeowner Association (HOA) must have the proper insurance to protect themselves.  A comprehensive insurance program that protects against personal injury, damage claims, and casualty losses is essential.

HOA’s will always face the risk of severe financial consequences from property loss by fire, wind and other uncontrollable circumstances.  There may also be liability claims associated with the management of the swimming pool, hot tub, workout facility, playground and any other areas on the grounds.  HOA’s should have a professional insurance agent review what areas need to be insured and also the value of their property.  General Liability and Directors and Officers Insurance are very important for any HOA to protect the members of the board against decisions made on behalf o the Association that may cause damage to others in the association.

Cape Insurance has insurance companies that specialize in coverage for homeowners association, so we are confident that we are able to help you obtain the broadest coverage available to protect the association

Residential Condominium Association Policy

This policy is designed to protect the Association for damages caused by various perils, such as fire, lightening, malicious mischief, wind/hail, to the property.  It also provides coverage for liability claims for bodily injury and property damage brought to the association due to injuries to “others” on the property, and or damages to the property associated with the condominium grounds.  There are many other forms of insurance for a condominium association to consider.  The following is a list of some of the typical other coverage available.



The right type of coverage for a community may not be the same for another one.  Each condominium association must consider the following coverage and decide which one is right for them.

  • Auto Insurance
  • Property Insurance
  • Employee Dishonest Insurance
  • Commercial General Liability Insurance
  • Comprehensive Equipment Coverage Insurance
  • Workers’ Compensation Insurance
  • Umbrella Liability Insurance

At Cape Insurance we have the expertise to help an association choose the correct coverage for the needs of the association.  We have a number of insurance companies that we work with to help us design a program to provide the best coverage available.