Hub announces new HOA product

Global broker Hub International Limited has announced the launch of HUB HOA Insure Complete, a product that will provide condominium and homeowner associations with streamlined insurance quotes.

“HUB HOA Insure Complete is an important step to provide condominium and homeowner associations clients with access to tailored insurance and advisory services whenever and however they want to be services and fulfill their coverage needs,” said James “Chip” Stuart, real estate specialty practice leader at Hub. “Hub invests in digital solutions to make the process of selecting and purchasing specialized insurance more efficient.”

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HUB HOA Insure Complete will enable Hub brokers to quickly provide insurance quotes for homeowner associations for condominiums and homes in the US. Coverage includes, but is not limited to:

• Property insurance

  • Customized coverage based on association by-laws (all-in, single entity, bare walls)
  • Comprehensive coverage including agreed value guaranteed and extended replacement cost options

• General liability insurance

  • Limits to include $1 million per occurrence and $2 million aggregate
  • Insured status for property managers
  • Board members and officers can be included as insureds

• Crime insurance

  • Social engineering fraud coverage
  • Employee theft coverage
  • Forgery or alterations coverage
  • Theft of money and securities coverage

• Auto insurance

  • $1 million hired and non-owned auto coverage
  • Garage-keepers’ legal liability coverage
  • Ability to include hired and non-owned auto and garage-keepers' legal liability