Policy Coverages for Condominiums Associations features:
At SAX, we never forget that an association is much more than a collection of buildings. It’s also made up of people. Specifically written for Homeowner Associations, the Directors & Officers Liability coverage we offer extends to choice of counsel. Coverage includes the management company, board members, the association entity, committee members, volunteers, and employees.
At SAX Insurance Agency, we understand that a condominium association is more than just a collection of buildings it’s a vibrant community of people, from homeowners to board members, volunteers, and property managers. Our comprehensive Condominium Association Insurance is designed to protect the unique needs of Homeowner Associations (HOAs) with tailored coverage, ensuring peace of mind for all stakeholders. Below, we outline the robust features of our insurance offerings, crafted to safeguard your association’s assets, leadership, and community.
We recognize the critical role property management companies play in the smooth operation of condominium associations. Our policies allow property management companies to be named as additional insured, ensuring they are protected under the same comprehensive coverage as the association. This fosters a unified approach to risk management and liability protection.
Unexpected damages to buildings or common areas can be financially devastating. Our Guaranteed Replacement Cost coverage ensures that your association’s property; whether it’s the clubhouse, recreational facilities, or shared infrastructure; is rebuilt or repaired to its original condition, regardless of the cost. This feature eliminates the worry of underinsurance, even in the face of rising construction costs or inflation.
Protect your association from third-party claims arising from bodily injury, property damage, or personal injury within common areas. Our Comprehensive General Liability coverage addresses risks such as slip-and-fall accidents, property damage caused by association activities, or other liabilities that may arise in shared spaces like pools, gyms, or parking lots. This coverage is essential for safeguarding the association’s financial stability.
Many condominium associations rely on vehicles for maintenance, shuttles, or other operational needs. Our Auto Liability coverage extends to:
The leadership of a condominium association; board members, committee members, volunteers, and employees—makes critical decisions that shape the community. Our Directors and Officers Liability coverage is specifically written for Homeowner Associations and offers robust protection against claims of mismanagement, breach of fiduciary duty, or other wrongful acts. Key features include:
For added peace of mind, SAX Insurance Agency offers High Limit Umbrella Liability policies that provide an extra layer of protection beyond your primary coverage. These policies kick in when claims exceed the limits of your underlying General Liability, Auto Liability, or other policies, safeguarding your association from catastrophic losses. With flexible limits tailored to your community’s needs, our umbrella policies ensure robust protection for even the most unexpected scenarios.
We partner exclusively with A-rated, California-admitted insurance carriers to provide reliable, financially stable coverage. These carriers are approved by the California Department of Insurance, ensuring compliance with state regulations and offering dependable claims handling and financial backing. With SAX, you can trust that your association’s coverage is backed by industry-leading insurers.
Every condominium association is unique, and SAX Insurance Agency offers a wide range of customizable coverage options to meet your specific needs. These may include:
At SAX, we never lose sight of the fact that a condominium association is a community of people. Our policies are designed to protect not just the physical assets but also the individuals who make your association thrive; board members, volunteers, employees, and property managers. We take pride in offering personalized service, working closely with your association to craft insurance solutions that align with your unique needs and budget.
With years of experience insuring condominium associations across California, SAX Insurance Agency has deep expertise in the risks and challenges faced by HOAs. From navigating complex bylaws to addressing the diverse needs of multi-unit properties, we provide customized coverage that reflects the intricacies of your community.
In the event of a claim, our team is here to guide you every step of the way. We work with A-rated carriers known for their efficient and fair claims handling, ensuring that your association can recover quickly and with minimal disruption.
Whether your association manages a small complex or a sprawling multi-building community, our insurance solutions are flexible and scalable. We offer coverage that grows with your association, adapting to new developments, amenities, or operational changes.
Protect your condominium association with the comprehensive, 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.
