Financial Planning
Does My HOA Need Common Area Insurance?
Our board will not provide insurance for common areas because they say it isn’t needed, and it’s expensive. Can homeowners independently insure their association common areas?
Leslie Brown is counsel with the law firm of Rees Broome in Tysons Corner, Va., and chairs the CAI Washington, D.C. Metropolitan Chapter’s Communications Council.
Our board will not provide insurance for common areas because they say it isn’t needed, and it’s expensive. Can homeowners independently insure their association common areas?
Join CAI’s online community for access to the industry’s most in-demand community association resources.
Thousands of your peers are sharing advice.