Whitepaper
10 Point Primer for Board Members & Property Managers
As a property manager or board member of a community association, there are 10 critical elements of community association insurance that you should understand. In this helpful PDF, we provide an in-depth look into these 10 points.
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About the Whitepaper
10 Point Primer for Board Members & Property Managers
Community associations have very unique insurance needs.
The sheer number of parties involved in the management and upkeep of a community association—owners, property managers, boards, management companies, maintenance employees, not to mention the structures themselves—increases the risk of potential liability exponentially.
Many times, communities have coverage gaps in their insurance that do not become obvious until after a disaster occurs. This can result in an insurer paying less than the amount of the loss or anything at all, which could severely impact the financial stability of a condominium or co-op.
Using this 10 Point Primer as a guide, board members and property managers can ensure that they have the proper insurance coverages to protect their community associations.
In this white paper we’ll break down the 10 best tips for evaluating your community association’s insurance policy. Here’s a sneak peek at what we’ll cover:
- It’s not natural to live in a condo or co-op
- Encourage owners to maintain insurance
- Do business with knowledgeable professionals
- Know your insurance company
- Invest in Directors and Officers liability
- When a recommendation is really a requirement
- Transfer risk to commercial occupancies
- No insurance equals no entry
- Review your insurance policies
- Understand how to shop your insurance
