CONDO & HOA INSURANCE
A board is responsible for shared property, association funds, common-area safety, and decisions that affect every owner. BLIS helps boards and managers understand where the master policy begins, where unit-owner coverage takes over, and how the rest of the program fits together.
Clarity for the board and community
Know what the association protects
We help boards connect governing documents, property values, liability, association decisions, and protection for community funds.
Review association coverageStart here
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Your business
Everything starts with the master policy. It can protect common property, shared building structures, and the association's liability. The rest of the program should support that foundation.
Bare-walls and all-in forms draw the boundary differently. One may stop at unfinished interior surfaces, while another may extend to original fixtures inside the unit. The governing documents and actual policy should be reviewed together, with legal questions directed to association counsel.
Board members make decisions about assessments, vendors, maintenance, rules, and repairs. Directors and officers coverage can protect the association and board members from certain claims tied to those governance decisions.
Reserve and operating funds also need protection. Fidelity and crime coverage can address certain theft, embezzlement, forgery, or fraudulent transfers. Limits should keep pace as account balances change.
Umbrella coverage can add liability limits above scheduled primary policies. Property values should also reflect current rebuilding costs, while flood and earthquake generally require separate coverage. BLIS helps boards see how these decisions connect instead of reviewing each policy in isolation.
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Choose the business type closest to yours to see the everyday risks, coverage choices, and information that may matter when you request a quote.
The foundation of the association program: shared property, building structure as defined by the form, and liability for common areas and association activities.
Master policy, D&O, fidelity, and umbrella — structured to the governing documents that run a condominium association.
Protection for certain claims tied to board and management decisions, including assessment disputes, rule enforcement, and governance actions.
Protection for association funds against certain theft and fraudulent transfers, with limits based on governing requirements and current balances.
Common-area property, shared structures, liability, and the D&O risk a board carries — built for townhome associations.
Additional liability limits above scheduled primary policies for associations seeking another layer of protection.
Coverage
These are common coverages to consider, not a one-size-fits-all package. What makes sense depends on how you operate, your contracts, state requirements, and the policy options available.
The master policy can protect common property such as pools, clubhouses, roofs, walkways, and other shared features, along with the association's general liability. Bare-walls and all-in forms reach into units differently. Comparing the policy with the governing documents helps the board explain what owners still need to insure themselves.
Unit owners, vendors, contractors, or others may challenge board decisions. D&O can help with covered defense costs and claims involving governance, rule enforcement, financial management, or maintenance decisions, subject to the policy terms.
Association reserves and operating funds may be accessible to officers, employees, or a management company. Fidelity and crime coverage can address certain theft or dishonest acts by covered people. State law or governing documents may set minimums, and the limit should be reviewed as balances grow.
An umbrella can add limits above scheduled primary liability policies. Associations with pools, fitness centers, playgrounds, parking structures, or higher limit requirements may want to review this additional layer. Which policies it extends depends on the actual umbrella wording.
If the association directly employs maintenance, grounds, or administrative staff, workers compensation may be required. Cost is based partly on payroll and the work employees perform, and the annual audit compares estimates with actual payroll.
The master policy excludes flood and earthquake. Whether the board should add them turns on location, lender requirements, and what the governing documents authorize. These are their own decisions — separate forms, separate insurers. Nothing about the master policy carries them along by default.
Coverage examples
A few situations to make coverage concrete. These are illustrations only — not actual claims, and not a guarantee of any coverage outcome.
Example scenario: A resident is injured in a fall on a wet common walkway. The association had received prior notice the walkway needed repair. The GL policy responds to the bodily injury claim. Separately, the injured party files suit alleging the board was negligent in delaying maintenance. The D&O policy responds to claims directed at board members individually for their governance decision.
Associations carrying both GL and D&O avoid a situation where the board-level claim falls outside the master policy.
Example scenario: An association treasurer with sole account access transfers funds to a personal account over several months before the irregularity is found during an annual audit. The fidelity bond responds to covered theft by a covered officer, helping the association recover reserve fund losses, subject to the bond's limit and terms.
Associations with no bond — or a bond limit that has not kept pace with reserve growth — may face a shortfall at claim time. Confirm bond adequacy at each renewal.
The claim scenarios above are illustrative examples only. They do not represent actual clients, actual claims, or guaranteed coverage outcomes. Coverage for any specific situation depends on the policy terms, conditions, exclusions, and the facts of the claim.
After coverage starts
Once coverage is in place, BLIS can help with certificates and policy changes. A certificate only summarizes policy information; the policy and insurer-issued endorsements determine the actual coverage.
FAQ
A bare-walls form generally stops at unfinished interior surfaces and leaves fixtures, flooring, cabinets, and improvements to the unit owner. An all-in form may extend to original fixtures and finishes. The governing documents and policy should be read together because that boundary affects what each owner needs on an HO-6 policy. Legal interpretation belongs with association counsel.
The master policy generally focuses on association property and premises liability. D&O is separate coverage designed for certain claims involving board or management decisions. Because policy wording varies, boards should confirm who qualifies as an insured and which types of decisions, defense costs, and exclusions the D&O policy addresses.
It depends on the state and the governing documents. Some states set a minimum above a certain size or reserve threshold. Some lenders — FHA and VA financing especially — make a bond a condition of loan approval. The governing documents may name a floor of their own. Knowing what binds your association means reading the statute, the documents, and any lender terms together. We identify the coverage lines; the legal read belongs with counsel.
No — the master policy excludes both. Flood comes through the NFIP or private insurers. Earthquake runs through private insurers in most states, or the California Earthquake Authority for some residential structures in California. Whether your association needs either turns on location, lender requirements, and what the governing documents let the board buy. Different applications, different forms, different insurers from the master policy.
Replacement cost is the amount needed to rebuild covered common structures using current labor and materials. It is different from purchase price, assessed value, or unit sales prices. If the valuation has not been reviewed in several years, a formal appraisal may help the board choose a more supportable limit and reduce the chance of a shortfall.
From the insights library
Gather the building values, system updates, occupancy details, claims history, and fire-protection information owners need for a smoother property insurance review.
A practical board guide to master-policy boundaries, building values, D&O, crime coverage, lender requirements, and the 90-day renewal timeline.
Tell us how your business works and what you want help with. We'll review what you share and let you know what else may be needed.
Coverage availability, pricing, terms, conditions, limits, and eligibility depend on the insurer, state, details of the business, claims history, and policy terms. Nothing on this site guarantees coverage, pricing, approval, or savings.
Illustrative claim scenarios are examples only and do not represent specific claims, predicted outcomes, or coverage guarantees. Whether a specific claim is covered depends on the policy terms, conditions, exclusions, and the facts of the specific situation.
Master policy form descriptions (bare-walls, all-in) are general reference points. The coverage boundary for any specific association is determined by the governing documents and the actual policy language — review both with qualified counsel before drawing coverage conclusions.
