How Community Associations Are Protected


Having a community association for a neighborhood can be a big appeal for buyers. Some people love shared amenities like gyms, pools, or other recreational areas. Others like the uniformity of the neighborhood design. If you develop a neighborhood with this kind of association in mind, you should think about insurance for community associations.

What Is Community Association Insurance?

There are certain risks involved with running a community association. This is where community insurance steps in. It is different from homeowners insurance that residents have to buy. Community association insurance can help cover damages, losses, or claims that arise outside of the homeowner’s individual properties.

Basic Types of Protections

The protections depend on what kind of amenities the community has. Generally speaking, insurance covers general liability issues. This means that if injuries occur to visitors in covered common spaces, insurance can help cover liability claims.

A community may have employees in common spaces. Some examples could be custodians at the clubhouse or lifeguards at the pool. If these employees suffer injuries on the job, they can be owed workers’ compensation. There are community association insurance plans that can help cover these claims too.

Ultimately, every association is different. This means each community will have different insurance plans. Carefully examine different protections. This ensures that your community’s needs are met.

Categories: Tips & Tricks
This post was written by , posted on February 23, 2022 Wednesday at 7:03 pm