Overview
Your HOA carries insurance to protect the association, its assets, and its volunteers from financial loss due to accidents, property damage, or legal claims. This insurance is separate from individual homeowner policies and is funded through association dues.
It’s important for every homeowner to understand where the HOA’s coverage ends and personal responsibility begins.
Types of HOA Insurance
1. General Liability Insurance
Covers bodily injury or property damage that occurs in common areas, such as playgrounds, pools, or entrance features.
2. Property or Hazard Insurance
Protects HOA-owned structures, signage, fencing, and amenities against damage from fire, storms, vandalism, or other covered events.
3. Directors & Officers (D&O) Insurance
Protects Board members and committee volunteers against claims related to decisions made in their official roles.
4. Fidelity Bond (Crime Insurance)
Protects against theft or misuse of association funds by anyone handling the HOA’s money, including Board members and management.
5. Workers’ Compensation (if applicable)
Provides coverage for employees or contracted workers performing services on behalf of the association.
What Homeowners Are Responsible For
HOA insurance does not typically cover individual homes or personal belongings. Each homeowner is responsible for obtaining appropriate personal insurance, such as:
Homeowner’s Policy (HO-3): Covers your house, personal property, and personal liability.
Condominium Policy (HO-6): Covers interior finishes, belongings, and liability for condo owners.
Loss Assessment Coverage: Optional protection that helps pay for special assessments levied due to HOA insurance claims.
Check your governing documents to confirm where the HOA’s coverage ends and your personal coverage begins.
Proof of Insurance
Most associations keep a current Certificate of Insurance (COI) available in the homeowner portal under Documents.
Homeowners or lenders may request a copy anytime.
To request a COI:
Log in to your PayHOA portal and download it from the Documents section, or
Email homeowners@yourhoahelp.com with your name, address, and the reason for the request.
Filing a Claim
If you believe a common area incident may result in a claim (e.g., damage to HOA property, accident in shared space, etc.), report it immediately by emailing homeowners@yourhoahelp.com.
Provide a detailed description, photos (if available), and the date of occurrence.
Importance
Proper insurance coverage protects the association, Board members, and homeowners from unexpected financial losses. Knowing what’s covered—and what’s not—helps every homeowner stay informed and properly protected.