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There are many parts of your home that you depend on every day, but do not always think about until they stop working. Your heating and cooling system, water heater, electrical panel, refrigerator, sump pump, and other major systems can be expensive to repair or replace when they suddenly fail. Equipment breakdown coverage is an optional endorsement that may be added to some homeowners insurance policies. It is designed to help pay for certain sudden and accidental mechanical, electrical, or pressure system breakdowns that a standard homeowners policy may not cover. Here are the basic things to know when you are asking whether this coverage should be added to your home insurance policy.   What […]

Most homeowners are surprised to learn that flood damage is usually not included in a standard home insurance policy. A home policy may cover many common losses, such as fire, theft, wind, or certain types of sudden water damage inside the home. But when water comes from outside and rises onto normally dry land, that is usually treated differently. This is why flood insurance exists. At StarNet Insurance Group, we help customers understand what their home insurance does and does not cover, so they can make better decisions before a claim happens. Flood insurance is one of the most important coverages to ask about, especially if your property is near a lake, river, drainage area, […]

When someone is shopping for condo insurance, we typically ask a few standard questions. Unlike a single-family home, a condominium often involves two separate insurance policies: the owner’s individual condo policy and the HOA’s master policy. Your personal condo insurance policy is commonly called an HO-6 policy. It is designed to help protect what you own inside your unit, your belongings, your personal liability, and sometimes the parts of the unit that the HOA does not insure. The HOA master policy usually covers shared property and common areas, but the exact line between “your responsibility” and “the HOA’s responsibility” depends on your association documents and master policy. Here are the basic elements that a condo […]

Fire protection is one of the most important parts of a property insurance quote. A carrier does not only look at the size, age, roof, or location of a building. It also wants to know how quickly a fire would be detected, how fast someone would respond, and whether the property has equipment that can help reduce damage before the fire department arrives. Do fire alarms and sprinklers lower insurance premiums? Fire alarms and sprinkler systems may help lower property insurance premiums, especially when they are monitored, inspected, active, and properly documented. However, discounts are not guaranteed and depend on the carrier, policy type, property type, state filings, and underwriting guidelines. This is why fire […]

Many townhome owners assume that the HOA master policy protects everything connected to the building. This is a common misunderstanding. The HOA policy may help cover shared property, exterior structures, common areas, or portions of the building, but it usually does not cover everything inside your townhome or every financial responsibility you may have after a claim. Because townhomes often sit between traditional homeowners insurance and condominium-style insurance, the most important step is understanding where the HOA’s responsibility ends and where your personal policy should begin. A well-planned townhome insurance policy can help protect your interior, personal belongings, liability exposure, and certain assessments from the association. Here are the basic areas that a townhome owner […]

When preparing a home insurance quote, we ask homeowners several questions. One of these is whether the property includes safety or security features that could help lower the risk of theft, fire, vandalism, or significant damage. A home security system can help protect your residence, but it can also affect your homeowners insurance premium. The amount of savings will depend on the insurance company, the type of system, whether it is monitored, and which protective devices are installed. Quick Answer: A home security system may lower your homeowners insurance premium, especially if it is professionally monitored and includes burglary, fire, smoke, or water-damage protection. The discount depends on the insurance company, the type of system, […]

When purchasing a homeowners, condo, or renters insurance policy, one important question is how your personal property will be covered after a loss. Personal property includes the belongings inside your residence, such as furniture, clothing, electronics, appliances, artwork, tools, and other household items. In simple terms, replacement cost coverage generally helps pay to replace damaged belongings with similar new items, while actual cash value coverage generally pays the depreciated value of the belongings at the time of the loss. There are two common ways an insurance policy may value these items after a covered claim: Replacement Cost and Actual Cash Value. Replacement cost generally pays to replace damaged belongings with similar new items, while actual […]

Choosing a home insurance deductible may seem like a small decision when you are comparing quotes. However, it can make a major difference when you have to file a claim. A lower deductible may feel safer, but it can come with a higher premium. A higher deductible may reduce your insurance cost, but it can also create a difficult out-of-pocket expense after a loss. Here are the main things to understand before choosing a deductible for your home, condo, townhome, rental property, or HOA property insurance policy:   Deductible Meaning A deductible is the amount you agree to pay before your insurance carrier begins paying for a covered claim. For example, if you have a […]

There are standard questions that insurance companies ask when preparing a homeowners insurance quote. One of the most important questions is about the age of your roof. In fact, roof age helps an insurer estimate how soon a new roof may be needed and how much risk the home may present. A roof does more than protect your home from rain, snow, wind, and hail. It also affects your insurance premium, your coverage options, and how much you may receive if you file a roof claim. Here are the basic things homeowners should understand about roof age and insurance:   Roof Age The age of your roof is one of the first details an insurance […]

When an HOA has a covered property claim, many board members and homeowners focus on the damage first. Was the roof damaged? Did a pipe burst? Was a clubhouse, hallway, lobby, pool area, fence, or other common element affected? The next question is often just as important: who pays the deductible? An HOA master insurance policy may cover certain buildings, shared areas, and association-owned property. However, the master policy usually has a deductible that must be paid before the carrier pays the covered portion of the claim. In some communities, that deductible may be manageable. In others, it may be large enough to create a serious budget issue. That is where HOA loss assessment planning […]

Many HOA board members assume that the association’s master policy covers every major property loss. Unfortunately, that is not always true. A standard HOA master property policy may cover certain damage to buildings, roofs, hallways, lobbies, clubhouses, fences, pools, and other common elements, but flood damage is often handled separately. That means your association could have strong property insurance and still have a serious flood insurance gap. Flood insurance is especially important for condominium associations, townhome communities, and HOAs with shared buildings or common areas that could be damaged by rising water, stormwater runoff, overflowing drainage systems, or nearby bodies of water. Here are the main things an HOA should review when the master policy […]

There are standard questions that HOA boards and property managers should ask when reviewing an HOA property insurance policy. Earthquake coverage is one of those topics that is easy to overlook because it is usually not included in a standard property policy. In many cases, earthquake damage must be added by endorsement or purchased through a separate policy. Standard homeowners and business insurance policies generally do not cover earthquake damage, according to the NAIC. At StarNet Insurance Group, we help associations review their HOA Property Insurance options so the board can understand what is covered, what is excluded, and what may need to be added based on the community’s location, buildings, governing documents, and budget. […]

Insurance deductibles are becoming an important topic for many homeowners associations. When an HOA master policy has a large deductible, the association must know how that amount will be paid if a covered claim occurs. A good insurance policy is important, but a good funding plan is just as important. HOA reserve planning for deductibles helps the board prepare for claims, reduce financial surprises, and communicate clearly with homeowners. This does not always mean that the deductible should be listed as a formal reserve study component. In many cases, insurance deductibles are unpredictable expenses, while reserve studies are usually designed for predictable repairs and replacements. Because of that, many associations handle deductibles through operating funds, […]

There are many reasons why an HOA, condominium association, or community association may see its insurance premiums increase at renewal. Some of these reasons are tied to the broader insurance market. Others are tied to the specific condition, location, claims history, and insurance structure of the community. HOA property insurance, often called an HOA master policy, is designed to help cover the buildings and common areas that the association is responsible for, including shared areas such as roofs, hallways, lobbies, pools, fences, clubhouses, and other association-owned property. It may also include important liability coverages depending on the needs of the community. Here are the main factors that can drive HOA insurance premium increases, along with […]

There are standard questions that insurance carriers ask when reviewing an HOA property insurance renewal. One of the most important areas is the association’s claims history. Past losses help an insurer understand how often claims happen, how severe they are, and whether the same problems may happen again. A clean claims history can help an HOA appear more attractive to carriers. A difficult loss history may lead to higher premiums, larger deductibles, coverage restrictions, or fewer carrier options. Here are the basic items that may affect your HOA insurance renewal pricing:   Number of Claims Carriers will look at how many claims the association has filed over the past several years. One small claim may […]

Community pools are one of the most enjoyable amenities that an HOA can offer. They are also one of the most important areas to manage carefully because injuries, slip-and-falls, diving accidents, water quality problems, and unauthorized access can lead to serious liability concerns. Many HOA boards ask the same question: Do posted pool rules, warning signs, and signed waivers actually protect the association? The answer is that they can help, but they do not replace proper maintenance, supervision, enforcement, documentation, and the right HOA insurance coverage. A strong risk management plan uses multiple layers of protection. Here are the key areas your HOA should review before and during pool season:   Pool Rules Pool rules […]

An HOA common area safety checklist can help board members and property managers inspect playgrounds, sidewalks, pools, lighting, fencing, drainage, and shared amenities before insurance renewal. They may want to know what common areas the association is responsible for, what amenities are available to residents, how often those areas are inspected, and whether prior injuries or claims have occurred. We created this checklist to help HOA board members and property managers think through playgrounds, sidewalks, clubhouses, pools, parking areas, lighting, landscaping, and other shared spaces before insurance renewal time. Good maintenance does not guarantee a lower premium, but it can help reduce claims, improve underwriting conversations, and show that the association takes risk management seriously. […]

When an HOA hires a landscaper, roofer, snow removal company, pool maintenance company, electrician, plumber, security provider, or other contractor, the association is bringing outside risk onto community property. A Certificate of Insurance, often called a COI, is one of the simplest tools an HOA board or property manager can use to confirm that the vendor has insurance in place. An HOA should require a Certificate of Insurance from every vendor before work begins. The COI should match the vendor contract, show active policy dates, list appropriate limits, and include proof of Additional Insured status when required by contract. For higher-risk vendors, the HOA should also request endorsements and review the requirements with an insurance […]

When an HOA experiences roof damage, the board must often make quick decisions while also protecting the association’s budget. A roof claim may involve storm damage, wind, hail, falling debris, water intrusion, or another covered event. The final outcome may depend on the HOA master policy, the cause of loss, the condition of the roof before the claim, and the documentation provided. HOA property insurance, sometimes called an HOA master policy, is generally designed to help cover buildings and common areas the association is responsible for. This may include roofs, hallways, lobbies, clubhouses, fences, pools, and other shared property, depending on the governing documents and policy terms. Here are the important factors HOA boards should […]

Water damage is one of the most stressful situations an HOA board can face. A leaking roof, burst pipe, failed sprinkler system, sewer backup, or storm-related water intrusion can quickly affect common areas, building systems, and individual units. The first 48 hours are important because water can continue to spread, materials can deteriorate, and mold concerns may develop if the affected areas are not dried quickly. The CDC recommends drying wet buildings and materials within 24 to 48 hours when possible to help prevent mold growth. In the first 48 hours after water damage, an HOA board should make the area safe, stop the water source, prevent further damage, document the loss, notify the insurance […]

Many HOA board members assume that auto insurance is only needed when the association owns a truck, van, maintenance vehicle, or security vehicle. This is a common misunderstanding. Even if your HOA does not own any vehicles, the association may still have an auto exposure when someone drives for HOA business. This can include board members, volunteers, property managers, or employees using their personal vehicles for community-related errands. Here are the basic elements that an HOA should consider when deciding whether auto insurance is needed.   HOA-Owned Vehicles If the association owns, leases, or titles a vehicle in the HOA’s name, then the HOA will usually need commercial auto insurance. This may apply to maintenance […]

Quick Answer: HOA cyber liability insurance helps protect homeowners associations when a cyber incident causes financial loss, exposes resident or vendor data, disrupts operations, or creates legal and recovery expenses. It may help with covered costs related to email scams, wire fraud, ransomware, data breaches, business interruption, and incident response support. Homeowners associations now depend on email, online banking, resident portals, accounting software, payment processors, and property management platforms. These tools make it easier to run the community, collect assessments, pay vendors, and communicate with homeowners. They also create new risks. An HOA may not think of itself as a cyber target, but cyber criminals often look for organizations that manage money, store personal information, […]

HOA Crime Fidelity Insurance helps protect a homeowners association from covered financial losses caused by theft, fraud, forgery, employee dishonesty, board member dishonesty, property manager theft, computer fraud, and certain electronic funds transfer fraud. It is also known as HOA Crime Insurance, HOA Fidelity Insurance, fidelity bond coverage, or employee dishonesty coverage. This coverage is especially important for HOAs that collect dues, maintain reserve funds, work with vendors, use online banking, or rely on board members and property managers to handle association finances.   What Does HOA Crime Fidelity Insurance Cover? HOA Crime Fidelity Insurance may help cover financial losses involving: Theft of association funds Employee dishonesty Board member dishonesty Property manager theft Forged or […]

HOA board decisions that can trigger a D&O insurance claim include rule enforcement, architectural approvals, assessments, elections, vendor contracts, budgeting, reserve planning, discrimination allegations, employment decisions, collection actions, and alleged financial mismanagement. HOA board members are often volunteers, but their decisions can affect property values, association budgets, vendors, homeowners, tenants, and the long-term direction of the community. Even when a board acts in good faith, a homeowner, resident, vendor, or other party may disagree with a decision and file a claim. HOA Directors & Officers Insurance, often called HOA D&O Insurance, is designed to help protect board members, officers, and in many cases the association itself when claims allege wrongful acts, errors, omissions, mismanagement, or […]