What Does Homeowners Association Insurance Policy Cover?
Homeowners associations (HOAs) have very exceptional insurance needs. Although the property faces the same risks as other types of properties, the parties responsible for covering the several elements of the property differ. What Does A HOA Policy Typically Cover? The master policy, which is the Florida homeowners' association insurance policy, covers various things. Typically, a visit to a Florida Homeowners Association Insurance Agent will educate you more about the HOA policy. Some of the most common things that are covered under this policy are: Property – The homeowner's association must cover any shared property within the community. That comprises areas like sidewalks, parking lots, elevators, basements, roofs, swimming pools, fitness centers, garages, hallways, and meeting rooms. It should also cover any equipment that is shared by the community, including boilers, oil tanks, and water heaters. Building Coverage – it is usual