Condo & Townhome HOA Master Policy Insurance

Key Coverages of a Condominium & Townhome Policy

• HOA master property coverage: This forms the foundation of the association's insurance, protecting the primary structural shell of the community buildings. We analyze your specific association bylaws to source policies that perfectly align with your defined responsibilities—whether they require a “Bare Walls” or “All-In” approach—covering elements like roofs, framing, exterior siding, and structural foundations against weather and fire damage.

• General liability insurance: This coverage protects the association against lawsuits arising from bodily injury or property damage taking place on common HOA grounds. If a resident or guest is injured at the community pool, slips in a shared parking garage, or falls on a shared walkway, this pays for legal defense costs and any awarded settlements.

• Directors and Officers (D&O) liability: HOA and condo boards face frequent legal scrutiny over assessment fees, enforcement of architectural rules, and community maintenance decisions. D&O coverage protects board members from being held personally financially liable if a homeowner sues the board over a management dispute or alleged breach of fiduciary duty.

• Common area and amenity insurance: This safeguards the high-value shared amenities that attract residents to your community. It provides specialized property damage coverage for items outside the main residential structures, including swimming pools, clubhouses, fitness centers, tennis courts, entry gates, private roads, and shared landscaping infrastructure.

• Fidelity bond/crime coverage: HOAs manage significant financial assets, including monthly assessments and reserve funds for major future repairs. This coverage protects the association's bank accounts against losses resulting from theft, fraud, embezzlement, or other dishonest acts committed by employees, property managers, or board members.

Why Choose Kansas Preferred Insurance Group?

Insuring a Condo or Townhome community requires a deep understanding of unique management responsibilities. As independent insurance agents, we act as your expert consultants and personal advocates, shopping the marketplace to find the perfect carrier for your association’s specific structure.

Here is why associations across Kansas, Missouri, Nebraska, and Colorado trust us:

• Master Policy Customization: We analyze your specific association bylaws to determine whether a "Bare Walls" or "All-In" approach is needed, ensuring your master policy seamlessly coordinates with individual owner policies to prevent dangerous coverage gaps.

• Unrivaled Shopping Power: We leverage our relationships across four states to market your association to specialized carrier markets that understand high-density residential risks, securing the best available coverage and rates.

• Dedicated Board Advisory: We specialize in securing robust Directors and Officers (D&O) liability coverage, shielding your voluntary board members from lawsuits arising from financial mismanagement, regulatory enforcement, or construction defects.

• Your Personal Claims Advocate: When a loss affects multiple units, we don't just stand by. We guide your board through the submission process and act as your advocate, pushing the carrier for a fast and fair resolution.