HOA insurance coverage in Miami FL and beyond

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What is HOA Insurance?

HOA insurance or Homeowner’s Association insurance covers property or casualty damage to a condo or homeowners association. HOA insurance is usually purchased as a package policy which includes property coverage, accident coverage, and liability coverage.

Property coverage refers to protection for the building itself, personal property (to a certain extent), and fixtures and equipment. Liability coverage secures individuals from liability claims stemming from accidents that take place in common areas. These include coverage from slips and falls, fires, and other such types of accidents, and liability claims occurring from using the common areas of a building.

Understanding Homeowners Associations

A homeowner’s association (HOA) refers to a private organization that looks after community property owned by a collection of homeowners. HOAs are commonly found in residential neighborhoods and authorize everything between the exteriors of these homes and the rules for shared amenities.

HOAs can bring prosperity to homeowners, wherein they help enforce the values and aesthetics of the properties in the neighborhood. Moreover, they also uplift the security and sense of community in the area that comes under their jurisdiction. If you’re going to purchase a house in a community with an HOA, it’s important to understand the rules and regulations, so you’re aware of the restrictions in place there.

What Does HOA Insurance Cover?

Almost all HOA insurance policies offer coverage for two essential aspects, namely property, and liability. In addition, it may also provide coverage for further living expenses in case your house may not be liveable for a given duration because of a covered peril.

A typical Florida HOA condo insurance plan covers common areas such as rec rooms, clubhouses, stairways, pools, walkways, tennis courts, etc. These are covered by damages caused by fire, explosions, vehicles, theft or vandalism, the weight of ice or snow, windstorm or hail, aircraft, smoke, falling objects, and the freezing of a heating, air conditioning, plumbing, or another such household system.

How To Determine the Ideal Coverage Limit For Your HOA Insurance?

Our specialist insurance experts will help you put together an all-encompassing insurance coverage and efficiently assist you in bringing together an exhaustive plan personalized according to your assets so you have a competitive edge in the market and enjoy the peace of mind that comes with such an HOA insurance plan.

To determine the ideal HOA policy, your location plays a vital role. Whether you’re located near the coastline, what type of community you serve, and the risks involved with your niche. Besides that, we also consider the characteristics of your condo and the specific set of variables affecting your property.

Exceptional Cases of a Third Party Living on Your Property

There’s no doubt that homeowner’s association insurance covers all the members of your family residing within your property. However, in some cases, they may not be the only ones present there. For such events, the policy terms differ according to the type of third-party individual inhabiting your property.


HOA insurance coverage protects the property, structure, and personal liability, excluding tenants belongings. Tenants are advised to consider renter's insurance for comprehensive protection.


If your HOA condo insurance in Florida lists a relative, like your mother-in-law, as a family member, she'll be covered under the insurance. Otherwise, only permanent residents are protected.

homeowner’s association insurance covers

Common Types of Insurance Claims For Homeowner’s Association Policy

Claims for damage to property

The insurance policy will cover the damage to common areas as a result of the covered perils.

Claims for liability

Protects an HOA against a lawsuit arising from accidents on HOA-controlled property and comes under the general liability section of the policy.

Claims for loss because of crime

Protects against criminal activities such as vandalism, arson, criminal mischief, or board members stealing or using funds for personal use.

Safeguard Your Neighborhood: Home Owner Association Insurance

Florida is home to thousands of housing units governed by home associations. Apart from looking after the damages to your property, a homeowners association protects and preserves the shared spaces of your neighboring residential area while increasing a sense of belongingness to your neighboring community.


Insurance Requirement for Your Home Owner Association

The requirements for your homeowner’s association depend upon the Florida ordinance under which your property was created. For instance, for condos, the Florida ordinance asks you to insure your property and get it assessed every three years. This legal procedure does not depend on the property’s market value.


On the other hand, HOA insurance does not depend upon the Florida ordinance alone. Instead, you will find the insurance requirements stated on the property’s documents. You may also see a set amount of insurance on the paper, but you can buy more or less of that amount according to your requirements.


Things to Know When Selecting The HOA Insurance

When buying homeowners association insurance, ensure it covers the land, buildings, roads, streetlights, gates, and recreational facilities.


Additionally, you may also look to insure for building upgrades, teardowns, renovations, constructions, and demolitions. This is vital because renovation work requires dealing with molds and hazardous waste that can lead to increased costs for structure re-building.


Apart from property insurance, HOAs can get you director’s and officer’s insurance as additional endorsements. According to the Florida ordinance, the HOA should ensure fidelity between the residents and those who control or are responsible for the funds, which includes the community president, the treasurer, the secretary, or any other authorized person in charge of the funds.


The Importance of Reviewing Your HOA Policy Coverages

The Board of Homeowners Association should review its policies to ensure they meet the community’s needs. Doing this may inform them about the applicable deductibles for floods, hurricanes, and storms and to be aware of what is being covered.


The Miami HOA insurance policy also covers specific hazards and risks to the building structures. When reviewing the policy, make sure to read the HOA insurance coverage for the following:

  • Roof damage and re-installations
  • Structural damages, including faulty doors, cupboards, broken windows, etc.
  • Damage to the community areas like tennis and basketball courts, parking, garages, swimming pools, lobbies, lighting, and elevator
  • General liability coverages for the HOA

Why Should You Review the HOA Policy Bylaws

Before submitting a claim to the HOA, you should thoroughly understand the HOA condo insurance Florida bylaws to know if the association owners are responsible for a particular HOA insurance coverage Miami.


The Bylaws provided by the HOA are the governing guidelines and include information such as the timings of meetings and how often they should be held, how many people are a part of the board, what are the common facilities of the area, and what are the individually owned facilities.


In addition, as part of the monthly condo dues paid by the property owners, the HOA offers liability and hazardous insurance. The policy includes shared components and standard features, including the roof, the outer structure, and facilities like the gym and pool.


On the other hand, individual property owners are covered by their own insurance, sometimes known as a HO6 insurance plan. This gives condo/unit owners coverage for their own things, possessions, and anything inside the confines of their particular apartments or units. This insurance covers liability claims and expenses of living in case the property is unfit for living there.


Reasons Why Insurance Companies Will Reject Your Claim

When a homeowner’s association files a complaint regarding property damage, it mainly consists of structural damage to homes, condos, or common areas. But if the damage is severe, it gets challenging to document and cover the losses.


Insurance companies use this to their advantage as an excuse to delay the recovery process. They claim they need more photos, documentation, or evidence to proceed with your complaint. They may also say that they should have been notified timely or reject your complaint without a valid explanation to save themselves some money.


The Future of HOA Insurance in Florida

You can’t accurately predict what the future holds, but based on our past and present, you can make claims about the future of HOA insurance in Miami. In the coming years, Florida will likely be struck with mighty storms, and fraud contractors will be the most significant issue the insurance industry faces. To combat the corrupt forces, the insurance industry will have to take a step and develop stricter policies, making it mandatory to provide more information while filing a complaint.


For instance: in case any damage occurs, insurance companies will not utilize third-party contractors. Instead, they will use their own personal team representatives to assess the case.


With the inception of new and advanced insurance policies, insurance companies will require higher deductibles. This means people will have to pay more from their own pocket. For this reason, it will be advisable to discuss the new policies before renewing your insurance plan.

When filing a complaint, you should gather enough evidence, including before-and-after photos of the damage, and prepare all the documents as if you’re about to file a legal case. These steps will ensure a smooth filing process for the complaint in the future when policies will be much more advanced and stricter.


Get connected with GGA Insurance Group

Property damage complaints are difficult to file, and it’s even more challenging to document the evidence and proceed with the concerning legal matters. To make this a smooth experience, connect with us today. GGA Insurance Group is known for its longstanding experience in the insurance sector, including a highly trained team of experts who treat your complaint with professionalism and provide regular updates to make you feel like a part of the whole process.

How is the Worth of a Property Determined?

There are three standard methods to determine the worth of a property so as to dictate the losses. Actual Cash Value takes into account the replacement cost of the damaged item and subtracts the depreciation. For instance, a new air conditioner may cost $500. However, if your 10-year-old AC gets damaged, its accumulated depreciation may have been 50% before the loss. Thus, your insurance company will only pay $250 as recompensation payments.

The Replacement Coverage method takes the replacement cost without any deductions for depreciation but within certain limits. Today’s price for an AC set of the same features and model as that of the 10-year-old set damaged by a storm will ascertain the compensation amount. If the cost is still the same, that would be its replacement coverage. Lastly, the Extended Replacement Cost covers a certain percentage of the cost above the limit. This way, you won’t be affected by the sudden cost increase.

What Type of Coverage is Excluded From Your Homeowner’s Insurance Policy?

Usually, an HOA policy does not cover damages that occur due to intentional harm, war, flooding or earthquake, or ordinary wear and tear. Other exclusions mentioned in the policy may include neglect or general power failure. For instance, if you’re aware of a leaky roof in your house and neglect to take care of it, the insurance policy will not cover any damages caused by it. Moreover, the Ordinance of Law exclusion arises when building codes change and require higher-grade materials for construction. Hence, you may be forced to use expensive materials for reconstruction or repair, but you’ll not receive full coverage for the materials.

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Which Coverages Should Your HOA Policy Include?

There’s more to HOA than property and general liability coverage for extensive insurance. Below is a breakdown of the types of coverages you can add to be entirely secure.

The homeowner’s association must at least be insured for the value of buildings in the common area, such as clubhouses or maintenance facilities. This way, if any property damage occurs, the HOA can repair or rebuild them swiftly without taking any financial strain. Typically, this comes under the full replacement cost option for buildings and comprises contingent liability, demolition, and increased construction costs. Contingent liability holds the insurer responsible for all damage repair costs and leaves the repair of undamaged sections with the HOA. Demolition, as the name suggests, offers coverage for demolition expenses, and increased construction costs cater to upgrades in prices due to local ordinances.

General liability protects the association from having to face liability suits all by themselves. A general liability policy provides coverage in the instances of an injury or accident in the HOA’s common areas. Some examples of events that a general liability policy covers include injuries from an HOA-owned pool, damages to a car by HOA property, and accidents on icy walkways. Even if the individuals suffering the injury weren’t supposed to be in the vicinity in the first place, the HOA could still receive a potential lawsuit. Commercial general liability safeguards the HOA’s interests in such events.

All HOA insurance in Miami have their specific limits. An umbrella policy offers much higher limits than theirs, so you are at a low risk of exceeding your policy limits. In simple words, umbrella insurance boosts your HOA’s current liability coverage. Extending policy limits can be costly, but an umbrella policy can help you achieve this feat in an affordable way.

Crime insurance protects HOAs from the mischief of criminals, unpaid volunteers, and dishonest employees. More specifically, it covers embezzlement, vendor fraud, theft, check fraud, and forgery. When deciding the coverage amount for crime insurance, you must check local laws and HOA’s CC&Rs to understand the minimum amount required.

D&O Insurance grants provisions for defense and indemnity for wrongdoings and transgressions against the HOA and the board of directors. A single claim of D&O defense can cost several hundred dollars, so having this HOA insurance coverage is essential for an association.

More commonly, D&O insurance protects boards from the expenses of non-monetary suits. This refers to legal measures taken against the board because a member of the HOA feels the board is breaking the HOA bylaws. When opting for D&O insurance, it is vital to understand thoroughly the coverage and exclusion options of the policy before proceeding.

The Importance of a Reliable HOA Insurance Company

Once you delve into the world of HOA insurance, you’ll realize that it is much more complicated than what meets the eye. Therefore, we’ve drafted an exhaustive HOA insurance package to ease the process and get you the necessary coverage.

Even if you or your property managers have filled up the details without any errors, you can still be subject to litigation due to perceived mistakes. This is why you need a trusted and reliable HOA insurance company at your disposal. Our master HOA insurance policy looks after these mistakes closely and other possible risks while eliminating coverage gaps at the same time. Our HOA insurance experts are available at all times to cater to queries from your association so that you can benefit from customized coverage that covers all the protection you require. Contact our team today for your free consultation.

Frequently asked questions

HOA insurance in Miami protects all your possessions regardless of where they are. Even if you’re on a world tour and lose a valuable item, as long as you’ve lost or damaged it due to a covered peril, the location wouldn’t be a problem; you’d be compensated for it by the insurance providers.

The answer to this question depends on the coverage of your insurance company. If your insurance company can operate in more than one state, it may issue a policy for the vacation home. Thus, you’ll need a dwelling policy under your HOA insurance Florida to cover the property.

Yes, both your business property and inventory will come under the protection of your HOA insurance as personal property used for business. Therefore, just like all other personal property, there are limits to the amount you can receive for reimbursement in case of damage or loss of property.

Firstly it’s imperative to contact your insurance agent or company almost immediately. If the damage is severe, you can make temporary repairs to protect yourself from further damage. However, make sure that the insurance company inspects the property before you make any permanent adjustments. In case of stolen property, contact the police first and then notify your insurance company about the theft.

The insurance company needs to inspect your home to assess the potential loss and the value of your home. The inspector can recommend changes and repairs for corrections to alleviate the risk of a loss. Failure to follow the recommendations can lead the insurance company to refuse or cancel the HOA insurance coverage Miami.

Without replacement coverage in your Florida HOA condo insurance, the insurance company will recompensate you with the purchase price of the damaged or stolen item after deducting the amount for depreciation. This means that with replacement coverage, you can get the full amount needed to repair or replace the product without any adjustments for depreciation.

Sometimes your house may be damaged to such an extent that you may be required to relocate while it’s undergoing repair or reconstruction. Homeowners that encounter this compulsory relocation may need to spend money on hotel lodges, dining costs,  and gas expenses. Such extra costs are covered under ALE coverage.

Miami HOA insurance costs fluctuate according to various factors, such as the range of amenities and the size of the HOA. Contact our insurance agents today to gauge your situation and get an accurate estimate or quote for the HOA insurance tailored to your specific requirements.