Better Maintenance, Better Insurance
By Cory Neubauer, Nextier Insurance Services
The Positive Side: Well-maintained HOA communities tend to spend less on repairs and face fewer emergencies. Routine maintenance of roofs, plumbing, electrical systems, and other infrastructure not only keeps properties in good condition, it also shows insurance carriers that the community is actively managing risk. In today’s volatile insurance market, a proactive approach can make the difference between stable premiums and steep increases.
The Other Side of the Coin: When maintenance is deferred, the costs compound. Neglected systems often fail, leading to expensive repairs, higher premiums, or even policy cancellations. Many HOAs have already seen dramatic premium increases, and failing to address maintenance only makes the challenge greater.
Where HOAs Still Have Control: While factors like location and wildfire exposure are beyond an HOA's control, maintenance is one area where communities can take charge of their risk profile. By taking a proactive approach and implementing the type of structured maintenance programs that ProTec offers, including quarterly inspections, preventive upkeep, and detailed reporting, associations can identify issues early and prevent them from escalating into major problems. These programs not only help preserve property values and extend the life of community assets, but they also demonstrate to insurance carriers that the HOA is actively managing its risk, which can help mitigate premium increases.
Recommended Resource: For communities experiencing insurance challenges or seeking a review of their current master policy, homeowners’ associations are encouraged to contact NEXTIER Insurance Services, an insurance brokerage specializing in helping HOAs navigate today’s complex insurance market. Click here to learn more or contact Cory Neubauer directly at coryneubauer@nxtins.com.
