The California insurance market is in a state of turmoil. A handful of big-name carriers are refusing to issue any new quotes in the state, while others are non-renewing existing clients. For small Homeowners Associations (HOAs), this can be a stressful time to seek insurance. Many HOAs (even those in urban areas) have been non-renewed by their long-time carriers, and must go out on the market for new insurance at a time when options seem limited and prices are rising. We can help! We specialize in HOA insurance in California, and can help non-renewed HOAs get new policies!
At Mighty Oak, our brokers understand how to navigate the nuances of a complex market, and the realities of shared homeownership. We understand that HOAs are unique, and as brokers we know how to properly insure them. Our master HOA policies include property coverage for the building as well as liability coverage for the HOA itself. We can also often add coverages like equipment breakdown, directors and officers coverage, sewer back-up, and crime insurance. Our goal is to match the coverages that are on the HOA’s current (non-renewing) policy. And for the individual condo owners who need insurance for their personal belongings, we work with insurance agents who specialize in personal insurance as well.
If your current insurer has non-renewed your HOA’s insurance policy, we will work to replace it with a policy comparable to what you previously had. If your price has risen considerably, we will work to find you a lower-priced quote. We can help even if your non-renewal is due to a history of claims. We work with insurers of all kinds, including those who specialize in “distressed” properties, meaning properties that have had a series of claims, and even currently-damaged buildings and buildings under repair.
Our brokers specialize in HOA insurance in California, Florida, Texas, Nevada, (and we are licensed in other states as well). We have been especially successful with HOAs in urban areas who have been non-renewed or whose prices have risen dramatically.