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Print The previous column discussed considerations regarding property insurance, but that is only one of many insurance types that most HOAs should have in place. First and foremost is liability insurance. This is the insurance which covers claims of negligent damage or injury affecting persons (owners, tenants, or visitors) on the property. Civil Code Section 5805 protects the individual members of the HOA from being sued personally just because they are HOA members, so long as the HOA has at least $2 million (100 or fewer members) or $3 million (over 100 members) in liability coverage. HOAs should discuss with their insurance broker and legal counsel what amount of liability insurance is appropriate, since an allegedly injured party could seek damages beyond the limits of the insurance, and that financial impact on the HOA could still later be passed along to all the members in the form of a special assessment.

United statesKellyg richardsonCalifornia department of insuranceSenior partner of richardson ober denichiloCode sectionOfficers insuranceCalifornia departmentSenior partnerRichardson ober denichiloஒன்றுபட்டது மாநிலங்களில்கலிஃபோர்னியா துறை ஆஃப் காப்பீடுகுறியீடு பிரிவுஅதிகாரிகள் காப்பீடுகலிஃபோர்னியா துறைமூத்தவர் கூட்டாளர்