As a preferred broker for many insurance agencies, we have developed a specific Planned Unit Developments program that offers comprehensive property liability packages addressing the unique coverage requirements of single-family homeowners associations. “Unique” is our favorite word. At SAX, we understand that your needs are unique. So is our response every time.
Policy for Planned Unit Developments (PUD) Features:
At SAX Insurance Agency, we recognize that Planned Unit Developments (PUDs) are unique communities, blending single-family homes with shared amenities and common areas managed by homeowners associations (HOAs). As a preferred broker for numerous insurance agencies, we’ve crafted a specialized PUD insurance program that delivers comprehensive property and liability coverage tailored to the distinct needs of these communities. “Unique” is our favorite word, and at SAX, we ensure our insurance solutions are as unique as your PUD, providing customized protection for your association, homeowners, and assets.
Property management companies are vital to the seamless operation of PUDs. Our policies allow these companies to be named as additional insured, ensuring they are covered under the same robust protection as the association. This unified approach enhances risk management and fosters collaboration between the HOA and its management partners.
PUDs often feature beautifully maintained landscapes, from community green spaces to meticulously designed gardens. Our Landscape Coverage protects against damage to trees, shrubs, and other landscaping elements, including losses due to vandalism. This ensures your community’s aesthetic appeal and property value are preserved.
For enhanced protection, we offer Umbrella Liability Policies with limits up to $25,000,000, providing an additional layer of coverage over your General Liability and Directors and Officers (D&O) policies. This high-limit coverage safeguards your association from catastrophic claims, offering peace of mind for even the most unexpected scenarios.
Our Blanket Property Limits provide flexible, comprehensive coverage for all insured properties within your PUD, including buildings, common areas, and amenities. This streamlined approach eliminates the need to assign specific limits to individual structures, ensuring full protection across your community.
Our All-Risk Coverage offers broad protection for:
Buildings: Covers clubhouses, recreational facilities, and other structures against a wide range of perils.
Contents: Protects equipment, furnishings, and other property within common areas.
Loss of Income: Compensates for lost association fees or other revenue during disruptions.
Extra Expense: Covers additional costs incurred to maintain operations during recovery. This comprehensive coverage ensures your PUD is protected against unexpected events, from fires to severe weather.
Important documents, such as association records, contracts, or bylaws, are critical to PUD operations. Our Valuable Papers Coverage protects against the cost of replacing or restoring these documents if they are damaged or lost due to covered events, ensuring continuity in governance and administration.
Maintaining accurate financial records is essential for PUDs. Our Accounts Receivable Coverage protects against losses resulting from the inability to collect association fees or other receivables due to damage to financial records, helping your association maintain financial stability.
Environmental incidents, such as chemical spills or contamination in common areas, can be costly to address. Our Pollutant Cleanup and Removal coverage reimburses expenses for cleaning up and removing pollutants, ensuring your community remains safe and compliant with regulations.
Earthquakes pose a significant risk in California, and PUDs often include vulnerable structures like clubhouses, streets, walls, walks, and fences. Our Earthquake Coverage provides targeted protection for these assets, covering repair or replacement costs to help your community recover quickly after a seismic event.
Every PUD is distinct, with its own mix of single-family homes, shared amenities, and governance structures. At SAX, we specialize in crafting insurance packages that address the specific risks and needs of your community, ensuring coverage that fits perfectly.
As a preferred broker for many insurance agencies, SAX has developed deep expertise in insuring Planned Unit Developments. Our specialized PUD program reflects our understanding of the unique challenges faced by HOAs, from managing shared spaces to navigating complex bylaws.
We work exclusively with A-rated, California-admitted carriers, ensuring compliance with state regulations and reliable claims handling. These financially stable insurers provide dependable backing, giving you confidence in your coverage.
In the event of a claim, our dedicated team guides you through every step, working with top-tier carriers to ensure a fast, fair resolution. We aim to minimize disruptions so your community can return to normal operations quickly.
Whether your PUD is a small neighborhood or a sprawling development with extensive amenities, our insurance solutions are flexible and scalable. We adapt coverage to accommodate growth, new facilities, or changes in your community’s needs.
To further customize your PUD’s insurance, SAX offers a range of optional coverages, including:
Fidelity/Crime Coverage: Protection against theft, fraud, or embezzlement by those handling association funds.
Flood Insurance: Coverage for flood-related damage to buildings, common areas, or landscaping.
Cyber Liability: Protection against data breaches or cyberattacks affecting association records.
Workers’ Compensation: Coverage for employees injured while performing association duties.
Directors and Officers (D&O) Liability Enhancements: Additional protections for board members and volunteers. Our insurance experts collaborate with you to assess your PUD’s risks and recommend tailored solutions for comprehensive protection.
Protect your Planned Unit Development with the specialized, community-focused insurance solutions from SAX Insurance Agency. Contact us today to request a personalized quote or schedule a consultation with one of our experienced insurance advisors. Let us help you safeguard your community’s assets, leadership, and future.
Disclaimer: Coverage availability and terms may vary based on the specific needs of your condominium association and the policies offered by our partner carriers. Please contact us here or on social media for a detailed review of coverage options and exclusions.
