Adding HOA and management to insurance?

Discussion in 'Business Operations' started by Stuttering Stan, Sep 14, 2004.

  1. Stuttering Stan

    Stuttering Stan LawnSite Bronze Member
    Posts: 1,503

    Property manager has asked me to add the HOA and management to my liability insurance, but this will cost $200 and I am a small business so this is not a smart investment. Should I ask themanagemet to help me with the bill, refuse to add them if they refuse, or pay the $200 and keep everyone (expect me) happy?
  2. specialtylc

    specialtylc LawnSite Bronze Member
    Posts: 1,656

    I have many clients (larger type accounts) that need to be covered under our insurance. Its called being Additionaly insured. It requires a Accord certificate from our insurance carrier. Our old Ins. Co. it was done at no cost to me, no matter how many I needed. My new Ins. Co. is charging me $20 for each certificate.
  3. polecat63

    polecat63 LawnSite Silver Member
    Posts: 2,655

    Are you already contracted by this HOA? If you are already under contract, then so are they. If it was not stipulayed in the contract that you do this them either pass the cost on to them or tell them no. If you are not under contract then adjust the price to recover your cost. Also, look for another insurance company. $200 seem rather high, IMHO.

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