Marino Risk Advisors Community Associations

Managing risk and safeguarding community assets can be a complicated task. That is why our Community Associations insurance programs are specialized in protecting homeowners’ and commercial property owners’ associations. Marino Risk Advisors can help provide the right customized insurance bundle depending on your association’s needs and assets.

Get in touch with us for a free consultation and learn how to protect your community association.

• Condominiums
• Homeowner’s Associations (HOAs)
• Commercial and mixed-use properties
• Townhomes
• Cooperatives
• Timeshares

Community associations face the same types of vulnerabilities as small businesses when it comes to fraud and malicious intent. Disgruntled board members can misappropriate funds, or a data breach could occur on the shared community account. Commercial crime insurance can help minimize these common risks.

If your association contains shared space, such as common properties, clubhouses, or similar, commercial property insurance can help cover damages to these buildings. As these types of buildings are frequently occupied, they may be especially vulnerable to property damage.

Leading a community association comes with its own share of risks. Many board members do not necessarily manage these associations full-time. In the event of any wrongdoing, alleged or proven, while managing an association, board members or directors may be help personally accountable and sued by other members, employees, or vendors. In such cases, Directors and Officers liability insurance can help protect personal assets while covering legal fees and other costs.

An umbrella insurance policy kicks in when the limits of an existing policy are exhausted. When it comes to community and condo associations, which includes numerous properties, individuals, and families, these limits can be reached quickly. If the association is held liable for a significant accident caused by neglect, even if caused by external circumstances, an umbrella insurance can help cover any losses beyond the limits of the primary policy.

Connect with one of our risk advisors to learn more about how we can help you secure your association.