Gittleman Management employs a full time Insurance Coordinator to administer insurance renewals for community associations. We manage master insurance and ancillary polices for 220+ associations through 20 carriers at more than 10 different insurance agencies. Each year we oversee renewals for over $4.3 Billion of insured assets.
Gittleman can help with your association insurance needs
- We offer a free insurance assessment to help analyze the adequacy of your existing coverage. Please contact us to see if your association qualifies for our association insurance coverage review.
- We will procure competitive quotes for self managed owner associations for a very low flat rate starting at $200. If interested, complete our community association insurance questionnaire. Please contact us approximately 120 days in advance of your association insurance renewal date for timely processing.
More information on coverage available to homeowner associations is listed below.
Features of our community association insurance program include:
- A standardized database for all client insurance information.
- A standardized bidding template—all bidders submit quotes based on the same insurance needs.
- Dedicated insurance agent professionals ensure low pricing, effective claims adjustment, and prompt renewals for our book of business.
- A Market Analysis and Renewal Strategy that begins over 100 days in advance of the renewal date. Provides ample time to review quotes and address concerns so Boards can make timely, informed decisions.
- Updated Property Spec sheet for carriers when information at the property changes.
- Annual rebidding ensures competitive quotes on every client account.
- Annual review of loss histories, risk exposures, and pro-active actions reduce claims risk.
- Review of insurance policy compliance with governing documents, property valuations, and appropriate endorsements.
- Review of carrier ratings and whether carriers are “listed” in the State of Minnesota and subject to the state insurance fund.
- Budget forecasting for insurance based on market trends.
- Development of letters to homeowner association members outlining recommended HO-6 policy coverage.
Coverage levels are determined by language in the governing documents, the most common are:
- Bare Walls - Structure covered from the exterior to the interior walls of the units, generally including painted white finish. Does not cover floor coverings, wall/ceiling coverings, cabinetry, plumbing and wiring serving a single unit, finished millwork, built in appliances, or other improvements and betterments regardless of when installed.
- All In - Entire structure including all permanently attached alterations, improvements, or betterments.
- Original Specs - Entire structure as it was conveyed from the developer to the first unit owner is covered. Alterations, improvements or betterments are not covered.