Proper insurance coverage is just the beginning...

Join 4 local experts as they discuss "Insurance Insider" knowledge to take your understanding from good to great! During the discussion, we uncovered the top policies boards and residents should consider, what's driving premium increases and how to protect your community with the best insurance coverages available.




6 Top Insurance Policies Boards Should Consider & What Do They Cover

  1. General Liability: Covers liabilities (slip & falls, damage to other' property, etc.)

  2. Property: Covers association's assets (buildings, equipment, etc.)

  3. Directors & Officers (D&O): Protects the board, its decisions and the property manager. It can also extend to committees.

  4. Crime & Fidelity: Protects against embezzlement and theft of association funds.

  5. Umbrella Policy: Extends over your liability policies if they become exhausted.

  6. Workers Compensation: Covers injuries for employees or board-authorized volunteers by paying medical expenses, not lost wages.

Policies Texas Residents Should Invest In

  1. Homeowner/ Condominium Policy: Provides coverage for resident's property. For high-rise residents, it also covers damages to common areas in the event of severe weather. Make sure your insurance carrier offers property removal and lodging while your unit is being repaired.

  2. Loss Assessment Coverage: There are two types. One covers deductibles, with a typical limit of up to $1,000. The other covers claims against you.


Get answers to even more questions like:

  • What's driving premium increases as associations renew policies?
  • Are reserve studies required?
  • Are reserve studies be used to gauge insurance budgets?
  • What isn't covered under conventional insurance policies?


Questions? Send us an email at

Thursday April 22, 2021