Board Members

Welcome, HOA Board Members!

Managing an HOA is no small task, especially when it comes to making decisions about insurance. If you’re feeling overwhelmed by the complexity of policies or frustrated with the process, we’re here to help. HOA’s are our specialty.

Why Choose NEXTIER Insurance Services?

Let us handle the complexities of HOA insurance so you can focus on building a thriving, secure community.

Expertise You Can Trust

Over 40 years of combined experience specializing in HOA insurance.

Tailored Solutions

Coverage options customized to meet your community’s unique needs.

Cost-Saving Opportunities

We’ll help uncover ways to optimize coverage without breaking the budget.

Professional Support

A reliable partner committed to your community’s success.

Frequently Asked Questions

Our HOA insurance cost went through the roof – what options do I have?

When HOA insurance costs rise dramatically, it’s crucial to explore several options to address the increase. First, we recommend reviewing your current coverage to ensure you’re not underinsured, over-insured or duplicating coverage. You can also consider adjusting deductibles, limiting coverage on certain areas, or reducing property limits where feasible. Additionally, it might be worthwhile to shop around and select an HOA insurance specialist such as NEXTIER Insurance. If available, a broker will provide quotes from different insurance carriers to find more competitive pricing.

Our HOA was non-renewed! What can we do to obtain coverage to protect our HOA?

If your HOA has been non-renewed, you still have options to secure the necessary coverage. Start by reviewing the insurer’s reason for non-renewal to understand the root cause—whether it’s related to claims history, property condition, wildfire score, or other factors. From there, you can work with an HOA insurance broker to seek insurance carriers that specialize in high-risk properties, as they may be more open to insuring HOAs with claims history or other challenges. We recommend working with an experienced broker who understands the needs of HOA’s and can help you find the right coverage, even with a non-renewal on your record.

The Homeowners are freaking out about the cost of insurance and we have to do a special assessment. What do you recommend we do to bring the cost down?

If your HOA faces significant insurance rate increases, it’s essential to manage both the financial and communication aspects effectively. Consider organizing a transparent discussion with homeowners to explain the reasons behind the rise and why a special assessment is necessary. We always recommend bringing your insurance broker to the townhall meeting to help educate homeowners and answer questions transparently. In terms of reducing costs, we recommend reviewing your insurance policy for potential adjustments—such as raising deductibles or adjusting limits on less critical coverage areas. You may also explore alternatives such as risk management strategies, including improving safety measures to reduce claims, which may result in premium discounts. Additionally, working with a broker who understands your HOA’s specific needs can help secure more affordable options.

Can you help us communicate with Homeowners via a Townhall?

Absolutely! We understand that communicating insurance changes and policy details to homeowners can be a challenge, especially when concerns are high. We can assist you in organizing and facilitating a Townhall meeting, either in person or virtually, where homeowners can get clear, expert information. We can help by preparing an agenda, a slide deck, providing answers to frequently asked questions, and ensuring that board members and homeowners understand the options and decisions being considered. Effective communication can help alleviate anxiety and ensure homeowners feel informed and involved in the process.

Do you have access to insurance carriers that will take on an HOA that has a lot of claims?

Yes, we work with insurance carriers that specialize in handling HOAs with a higher claims history. While some insurers may avoid high-risk properties, there are companies that focus on providing coverage to HOAs that have experienced multiple claims. We can help connect you with these insurers and assist in finding a policy that balances affordability and coverage. It’s essential to address any underlying risk factors that might contribute to high claims, and we can provide recommendations to reduce risk and improve the HOA’s insurability in the future.

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