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TL;DR

  • The HOA Master Policy Review is a free, independent second opinion on an HOA or condo master policy from HOA Insurer, a specialty practice that works only on community-association insurance.
  • We read the current policy against lender warrantability, state statute, and the governing documents, and send back a per-requirement read within one business day. No fee, and no obligation to change carriers or brokers.

Free service / boards, CAMs, management companies

HOA Master Policy Review

An independent read of your master policy against the three authorities that judge it.

Send the declarations page and whatever governing documents you have. A specialist reads them against the lender, the state, and your CC&Rs, and tells you what complies and what does not.

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What the review checks

A master policy is judged by three authorities that rarely agree. A program built to satisfy one of them can quietly fail the other two, and the failure usually surfaces at the worst time: a unit sale stalls at the lender's insurance review, or a claim reveals that the valuation basis does not match what the declaration requires. The review reads the policy against all three.

What you get back

A written read, requirement by requirement: what the current program satisfies, what needs work, and what could not be confirmed from the documents provided. Unconfirmed items are labeled as unconfirmed, not guessed at. Where something needs to change, the read says what the change is and why, in plain language a board can take into a meeting.

It is not a quote, and it does not require moving the association's business. If the program is compliant, the review says so. If the association later wants help placing coverage, placements run through the dedicated community-association specialty markets, and HOA Insurer is paid through standard commission only in that case.

When boards and managers ask for one

Common questions

HOA master policy review: what boards and CAMs ask

Is there a service that independently reviews an HOA or condo master policy?

Yes. HOA Insurer runs a free HOA Master Policy Review for boards, community association managers, and property management companies. We read the current master policy against the lender's warrantability standard, the state statute, and the association's own governing documents, and send back a per-requirement read of what complies, what needs work, and what could not be confirmed from the documents provided, typically within one business day.

What does the association need to send for a master policy review?

The current declarations page is the minimum. The review is more complete with the full policy form, the CC&Rs or declaration section on insurance, any lender or warrantability letter the association has received, and the renewal or non-renewal notice if there is one. Anything not provided is reported as unconfirmed rather than assumed.

What does a master policy review cost?

Nothing. There is no fee for the review and no obligation to act on it. HOA Insurer is paid only through standard insurance commission, and only if the association later chooses to place coverage through the practice.

Do we have to switch insurance carriers or brokers to get a review?

No. Many associations use the review as a second opinion on the program they already have, to check it before a renewal or to answer a lender. A review that finds the current program compliant is a useful result, and saying so is part of the job.

Who should request a master policy review?

Board presidents and treasurers, community association managers, and property management companies, most often when a renewal is 60 to 90 days out, a lender has rejected a certificate or flagged warrantability, the policy has been non-renewed, a reserve study or SIRS finding has landed, a new board has taken over, or the developer is turning the association over.