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Do You Need Management Liability For Your Homeowners Association?


If you’re part of a Homeowners Association and think you don’t need Management Liability, you should really think again.

Management Liability can include liability coverage for directors & officers, employment practices, crime, dishonesty, and even fiduciary liability to protect those who are entrusted with protecting funds in an employee pension plan.

But why would a Homeowners Association need any of these things?

  • It can cover a claim that a prospective home buyer was discriminated against and offered a higher price, or that their purchase of the home was prevented altogether because of alleged discrimination.
  • It can cover a board member if a decision is made to use a certain contractor to maintain a common space, and then that contractor is found to have had a history of negligence that the board member overlooked or failed to discover.
  • Directors and Officers Liability can cover claims brought against board members for allegations that bylaws were not properly adhered to.

While coverage costs may vary, all it would take is a single lawsuit to undoubtedly put you far over the cost of your premium in defense costs – even if you did win. In an age where lawsuits are becoming more common every year, you could protect yourselves and your personal assets for a relatively small amount.

Allan Block Insurance, Professional Service with the Personal Touch

We are located in Tarrytown, NY, in the heart of Westchester County, a key business district just north of New York City. We write auto, home, renters, condo, co-op, personal, business, life and group insurance for clients locally and in NYC, CT, NJ, PA, MA and many other states. For more information or answers to your insurance questions, please contact us.

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