HOA property insurance safeguards communal spaces, edifices, constructions, and facilities from harm or loss caused by specified incidents like natural calamities, fire outbreaks, theft, and vandalism. This insurance typically caters to the expenses for repairing or replacing damaged assets.
Coverage boundaries and exceptions differ based on the particular insurance plan acquired by the HOA. It's crucial to examine the policy particulars to grasp the precise coverage limitations and exclusions.
