Many subdivisions and condominium developments have a board of trustees or directors who manage those things that affect the entire community. Maintenance, safety, updates – all these and more are handled by homeowners associations, condominium associations and similar groups. O’Connor Insurance has a dedicated team of professionals that focuses on protecting these community leaders and their organizations.
A community association should consider coverage for the following:
- Directors and Officers – This coverage protects board members in the event of a dispute over actions your community association.
- Personal Liability – Covers costs associated with claims where injury or property damage was caused by a board member’s negligence.
- Operations and Premises – Coverage for accidents that might happen on property managed by the association.
- Advertising – Protection against claims of false advertising and marketing by the board
- Employment Practices – If the community association has employees, this coverage mitigates liability common to employers. Risks include wrongful termination, discrimination, harassment or Americans with Disability Act violations.
- Employee Benefits Liability – This protects board members from liability if there are errors or omissions as benefits are explained and offered to employees.
- Medical Coverage – Pays for medical expenses, first aid, costs associated with first responders and ambulance fees should there be an injury on common property.
- Owners Liability – Should your community association hire a contractor, this insurance covers any damage to homeowner’s property if the contractor lacks adequate insurance.
The independent agents of O’Connor Insurance Agency will work with your association board to identify the type of coverage you need at a price you can afford. We will find the right balance of premium and deductible to fit within your community’s budget.
Apples and Oranges
Karen O’Connor Corrigan of O’Connor Insurance reviews five common mistakes in coverage for community associations.
Karen O’Connor Corrigan provides basic information about Condominium Master Policies, a type of insurance policy carried by condo associations. Karen describes coverages and limits, and offers advice on managing policies.