This policy is intended to cover damage to the building, common areas and elements otherwise specified by the association's governing documents to the extent damage is caused by an “insured peril” such as fire, lightning, explosion, smoke, windstorm, hail and others.
This insurance policy protects the HOA/building owner against liability for claims alleging third bodily injury and/or property damage like a slip and fall or fire damage to a unit owner’s property caused by the HOA/building owner’s negligence.
This policy is issued to provide limits in excess of the HOA/building owner’s General Liability Policy and is intended to respond if limits under the general liability policy are depleted.
Crime and Fidelity Insurance protect the HOA/building owner’s operating and reserve accounts. Crime and Fidelity Insurance can cover fraud, embezzlement or false invoices, computer fraud and wire fraud.
This insurance policy is maintained to protect the HOA from lawsuits against its board of directors/officers for claims alleging wrongful acts or breach of a fiduciary duty.
Workers’ compensation policies generally do not pick up unpaid or volunteer staff and HOA/building owner workers’ compensation policies are crafted to address this exposure.
You know you are getting the best coverage from the most trustworthy insurance carriers because Agilius works directly with top A/A++ rated carries who specialize in commercial real estate insurance such as Chubb, and PHLY.
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Access to quotes, binders, policy forms and all endorsements 24/7. Unit owners and tenants get direct access to download their insurance certificates from our site. All policy related material is available 24/7.
Our research team at Agilius discovered that the price differences* for Homeowner Association (HOA) insurance policies in NYC are nothing short of astounding, and this is just one example out of many across the US. Agilius provides you with an easy way to compare quotes online, customize your coverage with the combination of technology and expert advice, and find the best insurance coverage at the most affordable price. So stop overpaying for insurance, check how much you could save right now!
* Illustration shows examples of insurance cost per $1M of asset replacement cost;
Source: NYS Attorney General condominium filing plans 2013-2016.