Insured name (to see that it covers the vendor in question).To confirm the actual insurance coverage of a vendor, you need the following information: Call and confirm that all insurance certificates and policies are paid up and in force.Ask for proof of endorsement of general liability and auto/vehicle liability from the vendor’s insurance company.Obtain a certificate of proof of general liability with a $1 million minimum limit.Obtain and file a copy of the “additional insured” endorsement.Ask for annual proof of insurance and keep it on file.Or community manager should do to confirm that a vendor has the proper It will also protect the HOA from being sued over theĪctions of a vendor. Insured” endorsement will give the HOA legal rights in the eyes of the vendor’s Insured” on their general liability and auto/vehicle policies. All vendors should be required to endorse the HOA as “additional The community association mightĪlso be legally liable if a vendor gets into an at-fault accident while driving Vehicle onto the property and causes an accident. Type of insurance, the HOA could be held liable if a vendor drives a company Property damage caused by someone driving a commercial vehicle.
Insurance is similar to general liability, except that it covers injuries or Commercial auto/vehicle liability insurance Workers comp, the HOA could wind up being responsible for medical bills if thatģ. Prove they have workers compensation insurance. Work on the property, management should ask for a certificate of insurance to Every state has aĭifferent minimum coverage level, so the HOA should research state regulations. The medical bills and/or lost wages of employees who are injured on the job.Īny vendor should have workers compensation insurance. Liability insurance covers legal fees and any judgments against theĭavis HOA Insurance Solutions recommends that contractors who make building improvements such as construction projects, roofing, and painting should have their general liability policy specifically endorsed to work on condominium or townhouse homeowner associations and planned development common interest developments. This type of coverage is meant to protectĪ business from lawsuits over accidental injury of a third party or damage to So it is important for any homeowners association to make sure the right insurance is in place. If a vendor commits any wrongful act, community associations can face lawsuits or even become liable themselves – even if the HOA is not directly at fault, according to. Insurance, the HOA board could wind up in legal jeopardy. To happen while that vendor is on the property, and the vendor does not have Insurance is actually meant to protect the interests of HOAs. Service could be for a one-time project such as painting or constructing aīuilding, or ongoing service such as landscaping, pool maintenance, or To provide a service to residents or perform maintenance on the property. Insurance a company should have and provides a checklist for verifying coverage. Have certain kinds of commercial insurance.
Part of the process includes vetting these vendors to make sure
HOA boards to hire vendors who will provide services to residents and maintain Community associations need to monitor their vendors’
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