As one of our specialty programs, Marketium Insurance Services is currently working with a large number of Homeowners and Condominium Associations and Property Managers in designing and providing insurance for their communities.
Community Associations are unique in that they have common ownership of land and facilities which are usually maintained by the association. We work with the Property Management Company and Managers along with the Board of Directors to review the individual needs of the community.
Homeowner Associations need to insure all common areas and amenities of the community while the members provide coverage for their individual homes.
Condominium Associations obtain a Master Policy to insure all buildings, property and common elements.
Many master package policies will include property coverage for the common elements; this usually includes initially installed property in accordance with the associations original plans and specifications referred to as single entity.
Some of the specialized coverage we recommend for Communities include:
•Directors and Officers Liability
•Flood
•Earthquake
•Environmental
•Coverage for amenities such as tot lots; tennis courts, swimming pools and other facilities
•Crime to comply with Association By-laws or state laws
Some of the coverage most businesses need include:
•Building coverage for the Common Elements
•Business Property
•Computers and Peripherals
•Electronic Data/Media
•Valuable Papers & Records
•Equipment Breakdown
•Business Income and Extra Expense
•General Liability
•Employee Benefit Liability
•Employment Practices Liability
•Automobile (typically hired and non-owned automobile liability)
•Umbrella/Excess Liability
•Workers Compensation