Condo and Townhome Associations
No two Colorado condominium or townhome associations are the same. Working closely with an experienced agent is crucial to determine which coverages may provide the best protection against your organization’s risks and exposures.
J J Insurance is ready to help your Colorado condo or townhome association get property and liability insurance tailored to your organization’s needs. Contact us today for a personalized quote.
HOA Management In Denver
The condominium or townhome association must secure appropriate condo association insurance to cover the building’s exterior structure and common areas and pay the premiums.
There are three major types of master insurance policies, including the following:
- Bare walls coverage may include coverage for your buildings’ exteriors, including the roof, walls, and studs inside the building.
- Walls-in coverage may cover the condo’s exterior and interior features, including paint, flooring, built-in appliances, light fixtures, and drywall.
- All-in coverage may cover everything listed above, plus any upgrades and enhancements homeowners make.
What Do Condo Association Insurance Policies Cover?
Condominium association insurance coverage varies depending on the association’s needs and the coverage offered by its insurer. In general, condominium association insurance may include the following:
- Liability protection may help cover medical expenses and legal fees related to third-party injuries that happen in common areas maintained by the association.
- Property coverage may help pay to repair or replace insured complex amenities, such as roof, exterior walls, and foundation.
If a covered accident or incident occurs, HOA management may be responsible for paying the policy’s deductibles and out-of-pocket expenses before insurance coverage kicks in.
Contact J J Insurance in Denver, Colorado, to start building your condominium or townhome association’s custom insurance plan.