HOA Insurance: Quotes & Coverage
Homeowners associations (HOAs) require insurance for all common areas within the association itself, as well as directors and officers insurance to cover actions of principles. What that insurance entails, however, varies depending on the insurance company you work with. At Shepard Walton King Insurance Group, we can take the hassle of finding the right company out of your hands, doing all the leg work for you so you can focus on running your association. From convenient offices in Harlingen and McAllen, we serve HOAs throughout Texas’s Rio Grande Valley.
Our agents have more than 80 years of combined experience and access to several highly rated regional and national insurance companies. It is our goal to provide you with the best options so you can find the coverage that meets your needs.
HOA and Condominium Owners Association Insurance
Insurance policies for homeowners associations and condominium owners associations are called declarations and bylaws. They are made up of a number of policies that are pulled together into a package uniquely tailored to the needs of each individual association:
- Directors and officers (D&O) insurance: This policy protects your association’s board of directors from personal liability in the event the association is sued.
- Crime coverage: Crime coverage, sometimes referred to as fidelity insurance, protects the association against the theft of association funds.
- General liability insurance: A commercial liability insurance policy offers protection for the association if a homeowner or a guest obtains an injury while on association property.
- Property insurance: This protects damage done to covered communal property, including the roof, hallways, stairwell, elevators, outdoor space and other areas. A commercial property policy will cover specific causes of these damages, such as fire or theft. For additional protection, we suggest looking into flood insurance and/or hurricane insurance, depending on where your association is located in the state.
- Liability insurance for homeowners: You can obtain liability insurance that will protect homeowners in your association against personal injury lawsuits that arise out of injuries obtained while on association property.
- Umbrella insurance: Many HOAs and condominium owners associations seek out excess liability insurance, or umbrella policies, to provide additional financial protection in the event of a lawsuit.
There are numerous business insurance policies that may benefit your association, your board or your homeowners. Discuss your particular HOA or condominium owners association insurance requirements with our experienced team.
Working with Mortgage Companies and Banks
One special service that we offer to our HOA and condo owners association clients is working with mortgage officers and banks during the sale of houses or condo units. We know what questions to ask, how to answer their overly technical questions, and even the timing of every step that must occur. The efficiency and effective communications that come out of these dealings can only be attained by working with an agency that is comfortable in this niche area. Shepard Walton King is such an agency.
Contact Our Texas Independent Insurance Agency for a quote
No matter where your association is located in The Rio Grande Valley, HOA insurance quotes and COA insurance quotes are just one easy online form away. Fill out our quote form today to get our skilled team working for you. You may also contact our Texas agency directly to discuss your needs prior to requesting a no-obligation quote. We look forward to being of service to you.