Understanding HOA Insurance: What Homeowners Association Policies Cover
When you live in a community governed by a homeowners association (HOA), you quickly realize that many aspects of homeownership are shared — including certain insurance responsibilities. This is where HOA insurance (also known as homeowners association insurance ) comes into play. But what exactly does it cover, and where does your personal homeowner’s insurance pick up? Let’s dive into the essentials. What Is HOA Insurance? HOA insurance is a policy purchased by the homeowners association to protect commonly owned property and shared spaces within the community. This coverage is funded by the HOA dues that each homeowner pays and is essential to maintaining and safeguarding the neighborhood's communal areas. This type of policy is different from individual homeowners insurance, which covers the interior of your specific unit and your personal belongings. Homeowners association insurance ensures that damages to shared spaces like clubhouses, swimmi...