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condo / hoa insurance

Condo and Homeowners Associations are all uniquely formed. This can lead to much confusion when it comes to assuring the proper coverage is in place. It is important that you have an agent that knows the ins and outs of this segment of the industry. 

We offer coverage for new and existing condo developments - from builders’ risk to association conversion and beyond.


We offer coverage for Homeowners Associations – Single Family Dwellings to Townhomes.


We offer coverage for Apartment Complexes.

Determining Coverage

Kitchen with Island

Here at IIB we begin by reviewing the association by-laws to determine what the association is responsible for insuring versus what the homeowners are responsible for. The By-Laws will state what the “Common Property” is, which typically falls under the responsibility of the Association to insure. Also stated in the By-Laws will be the Liability Insurance requirements of the Association. Depending on the type of Association, these coverage requirements may differ.

Property Coverage:


Condo Association:

In a Condo Association it is the Associations responsibility to insure the “Common Elements” which are defined in the Associations By-Laws. The Individual Unit Owners are responsible for insuring their units, typically with a HO-6 policy. These responsibilities can vary depending on the By-Laws.

  • Walls In –

    • Under this type of policy, the association is only insuring the building shell. Individual unit owners are responsible for insuring everything inside their unit. This would include interior walls, wall coverings, flooring, appliances, plumbing fixtures and cabinets. Individual unit owners would also need to insure their personal property and personal liability. This would require each unit owner to carrier a HO-6 insurance policy.

  • Walls In – Back to Original Specs

    • In this situation, the Association is responsible for insuring the building back to its original specs. Individual unit owners are responsible for insuring any “Betterments and Improvements” that they make to the unit, along with their personal property and personal liability. This is also done though a HO-6 policy.

  • Walls in – Betterments and Improvements

    • Under this type of coverage, the insurance responsibility of the Association is the entire building, including each unit owners’ betterments and improvements to their individual units. Individual unit owners would be responsible for insuring their personal property and personal liability. Again, this can be done with a HO-6 policy.


Homeowners Association:

In a Homeowners Association, each homeowner owns their home and the responsibility for property coverage falls on them individually. This leaves the Association responsible the “Common Elements” listed in the By-Laws. Typically, this will include structures such as fences, signs, playgrounds, clubhouses and pools.

Liability Coverage:


General Liability

General Liability provides bodily injury and property damage that occurs on the premises or operations and the association is found liable for said damages.

Directors & Officers

Directors and Officers (D&O) liability insurance is insurance coverage intended to protect individuals from personal losses if they are sued as a result of a decision they make in their capacity as board members. This coverage is recommended for all association that have a Board of Directors.

Employee Dishonest of Fidelity Bond

Coverage provided by Employee Dishonesty/Fidelity Bond to cover theft by an employee. However, not all policies provide adequate coverage here when it comes to Association. Where trouble arises is in the definition of Employee. Associations typically do not have “Employees,” that is why it is important that your policy include Property Managers, Board Members, Family of Board Members, etc. as “Employees.”

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