Yes. Florida Civil Code Section 5805 requires HOAs to maintain property insurance and general liability insurance for common areas. Additionally, virtually all HOA governing documents (CC&Rs) contain their own insurance requirements that may exceed the statutory minimums.
Beyond legal requirements, lenders financing homes in HOA communities require evidence of proper master policy coverage — gaps or lapses can prevent homeowners in your community from selling or refinancing, creating significant board liability. Operating without adequate insurance also exposes the association and individual board members to personal financial liability.
Related FAQs
Underinsurance is the single most common problem we identify when reviewing HOA policies — and it's almost always invisible until a major claim is filed. Common warning signs include: ...
Yes — and this is one of the most important coverages an HOA board can carry. HOA board members are volunteers making binding decisions on behalf of all homeowners. ...
A lapsed or cancelled HOA master policy triggers serious consequences on multiple fronts: Lender requirements: Mortgages on units in your community typically require HOA coverage. Lenders can force-place coverage ...
Let's talk about
your insurance needs
Whether you're exploring coverage for the first time or reviewing an existing policy, a conversation with our team costs nothing and could make all the difference.
Connect with a Specialist
Protecting families and corporate interests with sophisticated insurance strategies for over 21+ years.
