Does My HOA Really Need a Package Policy?
Considering that many States and municipalities require an HOA to carry General Liability and some form of Commercial Property coverage, opting for a Package Policy may end up saving you money in addition to better limiting your liability.
Factoring in the package price discount commonly available to Package Policyholders, it often ends up being a no brainer to carry one.
At the end of the day, a Commerical Package can typically offer much better protection at a very similar price, making it a great option for HOAs to look into. Considering all the risks associated with running a community of residents and managing public spaces, the cost of carrying a solid Commerical Package is often far outweighed by the potential financial liability of an uncovered loss.
At Tomins, we take a consultative approach to HOA Insurance. Our seasoned team of HOA insurance experts specializes in getting you all the insurance you need, with none of the coverages you don’t.
Rather than offer the same generic packages commonly-seen in the insurance industry, we take the time to understand your business and its needs.
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