As a board director or officer of your neighborhood’s homeowners’ association, you have a duty to your community residents to protect them, their homes and surrounding properties from disaster. Unfortunately, it can be difficult to predict disaster, as it comes in many forms. Natural disasters, vandalism, theft, fraud and other crime are all very real risks that communities face, and because HOAs assume the role of protector and moderator, they also assume liability should something happen. To protect your association and its members, look into HOA insurance companies near you.

The needs of every community is different, and what may be a very real exposure for your neighborhood may not even be an issue for the neighborhood a block down the road. For this reason, you should work with an HOA insurance company that is willing to assess your neighborhood’s risks and devise a policy that includes coverages you need and does away with those that you don’t.

That said, there are some coverage options that you shouldn’t forego, as every HOA can benefit from them. Directors and Officers insurance can protect board members from claims brought against them personally. Crime insurance can protect the association against losses of property, money and security as well as from fraud and employee dishonesty. Cyber liability insurance can protect the association from assuming liability in the event of a cyber breach, which are becoming increasingly common. The right HOA insurance companies can help you evaluate your risks and come up with a policy that best protects the association, your community and its residents.