HOA & COA Insurance – Product Highlight

Published on March 29, 2016

Thirty years ago, California had 7,000 Homeowners associations as more and more people started to move into condos, town homes and the like. Now in California, there are almost 50,000 community associations (homeowners associations and condominium owner associations), and approximately 10 million Californians live in areas regulated by these community associations.

According to the Orange County Register,

HOAs are nonprofit associations of homeowners formed to maintain a development’s common areas and protect property values. Restrictions spelled out in property deeds require homeowners to comply with their rules and pay monthly assessments for common expenses.

In the typical condo, associations take care of the landscaping, clubhouse and pool, maintain elevators and make repairs to commonly owned structures, walks, roads and parking areas.

The other side, however, is that community associations have become a 10.8 billion dollar industry in the state of California. And while HOAs and COAs have obvious differences, they are and need to be run like a business. Like any other business in the state of California, HOAs and COAs need insurance. Browse the data below from hoa-cpa.com to see the number of community associations in your area and to start brainstorming how to reach out to this part of the market. Then, see below for our HOA Insurance and COA Insurance Product Highlights!

Area	Associations	Units	Est. Annual Rev.
California	49,720 assns	4.8 million units	10.8 billion dollars
Northern California	16,668 assns	1.6 million units	3.4 billion dollars
Southern California	33,032 assns	3.2 million units	7.5 billion dollars
Alameda County	1,996 assns	151,000 units	410 million dollars
Butte County	190 assns	14,000 units	23 million dollars
Contra Costa County	1,268 assns	164,000 units	343 million dollars
El Dorado County	236 assns	125,000 units	62 million dollars
Fresno County	471 assns	47,000 units	74 million dollars
Kern County	461 assns	89,000 units	100 million dollars
Los Angeles County	15,167 assns	596,000 units	2.1 billion dollars
Marin County	524 assns	32,000 units	122 million dollars
Mono County	172 assns	14,000 units	46 million dollars
Monterey County	391 assns	35,000 units	66 million dollars
Napa County	176 assns	11,000 units	30 million dollars
Nevada County	261 assns	39,000 units	64 million dollars
Orange County	4,710 assns	828,000 units	1.7 billion dollars
Placer County	651 assns	118,000 units	156 million dollars
Riverside County	2,278 assns	684,000 units	860 million dollars
Sacramento County	952 assns	139,000 units	266 million dollars
San Bernardino County	1,031 assns	186,000 units	366 million dollars
San Diego County	6,561 assns	673,000 units	1.7 billion dollars
San Francisco County	2,720 assns	78,000 units	416 million dollars
San Joaquin County	361 assns	69,000 units	93 million dollars
San Luis Obispo County	631 assns	47,000 units	66 million dollars
San Mateo County	1,001 assns	79,000 units	244 million dollars
Santa Barbara County	874 assns	37,000 units	141 million dollars
Santa Clara County	2,371 assns	162,000 units	476 million dollars
Santa Cruz County	584 assns	22,000 units	52 million dollars
Solano County	259 assns	34,000 units	68 million dollars
Sonoma County	690 assns	48,000 units	100 million dollars
Stanislaus County	231 assns	23,000 units	44 million dollars
Tulare County	198 assns	15,000 units	22 million dollars
Ventura County	1,043 assns	130,000 units	329 million dollars
Other Northern Calif Counties	1,187 assns	235,000 units	213 million dollars
Other Southern Calif Counties	97 assns	5,000 units	10 million dollars

Homeowners Associations Insurance & Condo Associations Insurance

HOA & COA Product Highlight:

• No cap on the number of units for Residential HOAs
• Property coverage available for HOA’s with fences, signs, lights, and buildings
• Acceptable exposures include playgrounds, pools, and tennis courts
• Any buildings constructed prior to 1978 are subject to company approval

Optional Coverages
Blanket Limits
Business Personal Property
Directors and Officers Liability

Click here to submit a one-page quick-quote application Now!

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Abram Interstate Insurance Services, Inc. is a California wholesale insurance broker (CMGA) that has licensing and expertise to place business in both admitted and non-admitted markets for personal lines insurance and commercial lines insurance in California and surrounding areas.

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