HOA Insurance Built for Boards and Property Managers Who Can’t Afford to Get This Wrong

Expert Insights: Can You Be Sued Personally?

The experts at Pro Insurance Group explain why Illinois HOA board members can be held personally liable and the 3 coverage gaps that leave most boards exposed.

Master Property Insurance

Covers the building structure and common elements as defined by your association’s declarations. We structure this as All-In, Walls-In, or Bare Walls depending on what your CC&Rs actually require and what produces the cleanest claims outcomes for your community.

Typical limits: actual replacement cost of all covered structures plus loss of assessments coverage and building code u pgrade.

General Liability Insurance

Third-party bodily injury and property damage claims arising from association operations, common areas, amenities, and events. Slip-and-fall at the pool, playground injuries, guest visitor incidents — all handled under this policy.

Typical limits: $1M per occurrence / $2M aggregate, scaling up for communities with high-amenity exposure.

Directors & Officers (D&O) Insurance

The most personally important coverage for any board member. Protects board members from personal liability arising from governance decisions, rule enforcement, budget disputes, vendor selection, and resident complaints. Without D&O, a single lawsuit can personally bankrupt a volunteer director.

Typical limits: $1M minimum, $2M-$5M for larger or more litigious communities. Read our deep-dive on D&O insurance for HOA boards.

Crime & Fidelity Bond

Protects association funds from theft or misappropriation by board members, employees, or property management company personnel. Required by most governing documents and by Fannie Mae / FHA for warrantable communities.

Typical limits: minimum of 3 months operating expenses plus reserve fund balance, per Fannie Mae standards.

Commercial Umbrella

Excess liability coverage that sits on top of your general liability, D&O, and hired/non-owned auto policies. Essential for any community with pools, clubhouses, amenities, or lawsuit exposure history.

Typical limits: $5M for mid-size communities, $10M-$25M for larger associations or high-amenity properties.

Cyber Liability

Associations handle resident personal information, process payments, store banking data, and run email and website systems. A breach or ransomware incident can trigger notification costs, regulatory fines, and business interruption losses. Cyber is no longer optional for responsible boards.

Typical limits: $1M for most assoc iations, $2M-$5M if handling significant payment processing or PII.

Equipment Breakdown

Covers mechanical and electrical breakdown of boilers, HVAC systems, elevators, pool pumps, electrical panels, and other equipment. Standard property policies exclude mechanical breakdown — this fills the gap and is inexpensive relative to exposure.

Typical limits: included as part of the master property program, often at $100K-$1M sub-limit with low deductible.

Workers Compensation

Required for any association with employees (grounds crew, maintenance workers, pool attendants, on-site managers). Protects the association from employee injury claims and meets state statutory requirements.

Typical premium: varies by payroll and job classification.

Can Pro Insurance Group work with our existing property management company?

Yes. We work alongside property management companies routinely. In most cases the property manager is the first point of contact for COI requests, claims handling, and renewal coordination. We set up direct communication pathways with both the board and the management company so nothing falls through the cracks.

How do we switch our HOA insurance to Pro Insurance Group?

Request a community review, share your current policy declarations and loss runs (we can help you obtain these from your current carrier), and we’ll market your submission across specialty carriers. If we produce a better combination of coverage and price, the switch happens at renewal. There is no cost or obligation for the review.

Does Pro Insurance Group write HOA insurance outside Illinois?

Yes. We are licensed nationwide and write community association business in all 50 states. Our specialty carrier appointments include national programs that allow us to place business anywhere in the country. Illinois is home — national coverage is standard.

What information do you need to quote our community?

At minimum: current policy declarations (property, GL, D&O, umbrella), loss runs for the last 5 years, a copy of your current governing documents or CC&Rs, basic community information (unit count, property type, amenities), and recent reserve study if available. If you don’t have some of these, we can help you obtain them.

How long does the quoting process take?

For most communities, we can return carrier quotes within 5-10 business days of receiving a complete submission. Complex accounts (large master-planned communities, high-rise buildings, communities with active litigation or significant loss history) can take 2-3 weeks. We provide a clear timeline at the start of the proce ss so you can plan around renewal deadlines.

Do you attend board meetings?

Yes — on request and where it adds value. Neal personally presents to boards for new account onboarding and for renewal reviews on substantial accounts. Annual insurance review presentations can be scheduled in person or via Zoom depending on the community’s preference.

What makes Pro Insurance Group different from other HOA brokers?

Three things: direct specialty carrier access (we market to the carriers that actually want HOA business, not just standard commercial markets); experienced community association leadership (Neal Fusco’s 25+ years in this vertical specifically); and a service model built around how boards and property managers actually operate (fast COIs, annual reviews, claims advocacy, and in-person or virtual board presentations where useful).