TL;DRCoastal Florida HOAs saw 40–120% premium increases between 2023 and 2026 as carriers withdrew from the state. A 100-unit oceanfront association in FL now pays $180K–$450K/year for wind + property + flood excess. Florida SB-1028 now requires full-replacement-cost insurance on all buildings for HOAs — no ACV allowed.
The six policies every association needs
- Master Property. Buildings, common areas. "All-in" vs "bare walls" vs "original specifications" — the coverage form determines what the unit owner's HO-6 has to cover.
- General Liability. Slip/fall, pool, amenities. $1M/$2M minimum; $5M umbrella on coastal properties.
- Directors & Officers (D&O). Protects board members personally against lawsuits from unit owners. Any board without D&O is exposed.
- Crime / Fidelity Bond. Embezzlement. State statutes set minimum limits (FL requires $1M or full operating budget, whichever is greater).
- Flood. NFIP for buildings in Special Flood Hazard Areas; private flood (Neptune, Wright, Palomar) for excess over $500K NFIP cap.
- Wind / Hurricane. Separate policy or endorsement in wind-exposed states (FL, coastal SC/NC, GA coast). Deductibles are percentage-based — 2%, 3%, 5% of TIV is typical.
Florida SB-1028: what boards need by 2026
Florida's condo structural reform law now requires associations to carry full-replacement-cost insurance on all building property. ACV (actual cash value) forms are no longer compliant. Boards must also fund reserves based on the most recent Structural Integrity Reserve Study (SIRS). Full SB-1028 breakdown.
Wind and hurricane: the deductible that surprises boards
Wind deductibles are percentage-based on total insured value (TIV) — not flat dollar. A $20M insured 100-unit building with a 3% wind deductible absorbs a $600,000 loss before carrier dollars kick in. Most associations are underfunded for this exposure. Coastal HOA hurricane deductible guide.
Why HOAs get non-renewed
- Roofs over 15 years old (FL) or 20 years (GA/SC/NC)
- Open claims or recent hurricane loss
- Under-funded reserves flagged during inspection
- Coastal location — most admitted carriers have withdrawn from FL completely
- Deferred maintenance visible on loss-control photos
When Citizens (FL) or standard markets decline, we place through Jencap, RT Specialty, or Johnston & Johnston on the wholesale E&S side. Why carriers are exiting Florida HOA.
D&O for community associations — why it matters
Board members can be sued personally by unit owners over elections, assessments, architectural decisions, and enforcement actions. D&O covers defense costs and settlement — typical limit is $1M–$5M. Board liability & wind coverage.
Carriers and markets we use
Johnston & JohnstonJencapRT SpecialtyAmwinsThe HartfordTravelersNeptune FloodWright NFIP
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Get a Free Risk Review →Frequently Asked Questions
What does an HOA master policy cover?
It covers the common-area property (roofs, exterior walls, grounds, amenities) and HOA general liability. 'All-in' forms also cover unit interiors at original specifications; 'bare walls' stops at the studs. The form choice determines what unit owners must carry on their HO-6.
How much D&O does our board need?
$1M minimum for small HOAs (under 50 units); $3M–$5M for mid-size associations. Condo boards and associations with active enforcement or architectural review committees face higher litigation risk and should carry $5M.
Why did our wind deductible just go up?
Reinsurance costs doubled 2023–2025 globally, and most coastal markets now price wind separately with percentage deductibles (2–5% of TIV). Expect this deductible structure to be permanent going forward.
Does the master policy cover individual units?
Depends on the form. 'All-in' and 'original specifications' forms cover unit interiors; 'bare walls' (or 'studs out') does not. Read your declarations page carefully — the form wording is where lawsuits come from.
What about flood coverage?
NFIP covers buildings up to $500K per building / $100K contents — low for most multi-family. For amounts above that you need private flood (Neptune, Wright excess, Palomar) — and in some cases stand-alone private flood is cheaper than NFIP.
What's covered under crime/fidelity?
Embezzlement or theft by board members, managers, or employees of association funds. Florida requires the greater of $1M or the full annual operating budget. Always verify the policy includes the property manager and their employees — not just the HOA's own volunteers.