Do HOA fees cover insurance?

Yes, a portion of your fees cover HOA insurance.

What if my HOA doesn’t have enough insurance?

If the HOA’s insurance isn’t enough to cover the cost of damage or liability claims, then it will usually issue a special assessment. This is a one-time fee that is split among HOA members to cover unexpected costs. If you have your own home or condo insurance, your policy may help cover these costs.

Why is my HOA requiring me to get home insurance if they already provide HOA insurance?

Home insurance and HOA insurance are different. Home insurance covers your private property while HOA insurance covers shared structures and areas. Many HOAs and mortgage lenders require homeowners to purchase home insurance before joining an HOA.

What if my home insurance overlaps with my HOA insurance?

Some overlap in coverage is possible, especially in condominiums. If this happens and you need to make a claim, notify both your HOA and your own insurer. They will determine which policy will cover the damage. Generally, you should try to get the HOA to cover claims before using your own insurance to avoid an increase in premiums.

Will HOA insurance cover injuries that occur on my property?

Probably not. You are usually liable for injuries that occur on your private property. The exception is if the HOA’s actions or inactions contributed to the injury. For example, if the HOA is responsible for salting driveways, but someone slips and falls in your driveway because of a lack of salt, the HOA may be held liable.

Is my HOA required to have HOA insurance?

Most are, but not all. Your HOA’s Covenants, Conditions, and Restrictions (CC&Rs) will say whether or not the HOA must carry insurance. Most states require condo associations to have insurance and a growing number are requiring it for all HOAs.

Mariia Kislitsyna

Contributing Writer

NYC-based and with a master’s degree in strategic management, Mariia has years of experience writing about real estate. You can find her articles in Investor's Business Daily, Forbes, and Yahoo Finance.

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Wondering if HOA insurance protects you and your family? Learn how HOA insurance works and how it may overlap with your current home insurance policy.

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