Insurance for condominium and homeowners’ associations can be viewed as a daunting undertaking.  What requirements are there for property values, liability limits, and extra coverages that are specific to associations?  That’s where Paragon Risk Management comes in.  We can remove the burden of insurance from the property management company or board of directors.  We have over 10 years experience insuring condominium and homeowners’ associations in Tampa Bay and throughout the State of Florida.  Our exclusive program with an A.M. Best “A” rated carrier gives our clients the most extensive coverage, including all state required coverages, at the most competitive rates around.

Purchasing the insurance for the association should involve the steps listed below:

• Don’t wait until the last minute – the process should start about 60 days prior to the policy expirations.
• Order loss history from current carrier – this is the single biggest hassle we hear as agents try to stonewall the association getting another quote.
• Put together a bid package – if your current agent is doing their job properly, you should have a spreadsheet listing the coverages and exposures for your association already.  If not, review your policy to find the property and liability limits.
• Make sure you use a qualified agent – ask for the number and size of associations the agent currently works with and what services they will provide you.  Using the right agency is half the battle.
• Let price be the last consideration – price is important but don't fall into the trap of going to the "bottom line" first. If you do, you may forget the number one goal of buying insurance: protecting the association's assets. Be certain that you're getting what you need before signing the check.

Let Paragon Risk show you how we can partner with you to reduce overall insurance costs for your association.  Contact us online, by phone, or email!