Crime Insurance Coverage for Homeowners Associations

Guarding your Homeowners Association’s Financials is a priority for Chapman Insurance Group. Making sure your reserves and operating accounts are insured is very important.

What is Crime Insurance Coverage?

Crime insurance coverage is not typically offered within general HOA property insurance. This type of coverage protects against the loss of money, securities, or other assets that result from the act of employee theft or your manager, some types of fraud completed by a third party, money stolen from the premises, and social engineering (AKA impersonation fraud).

What Does Crime Insurance Cover for Homeowners Associations?

Crime insurance coverage safeguards your HOA against the following issues:

  • Employee or Manager theft/dishonesty:
    • This type of coverage protects you from dishonest acts committed by employees/managers that include but are not limited to theft of money.
  • Forgery/alteration
  • Money/securities theft
    • If money and/or securities should be stolen, should disappear, or get destroyed, your HOA can be covered for this. This type of coverage also protects against these events happening offsite.
  • Burglary/robbery
  • Computer fraud

Crime Prevention Tips

Although crime insurance coverage in Florida can act as a safety net in case the unexpected happens, there are some steps that you can take in order to make you and your HOA less vulnerable to crime. Here are those tips:

Regarding money

  1. Make bank deposits daily – alternate your routes to and from the bank along with the time that you make the deposit.
  2. Check cash register receipts against your deposits in order to make sure your employees are being honest.
  3. Mark any and all checks received as ‘For Deposit Only.’

Regarding property

  1. Keep rear doors that lead outside locked at all times.
  2. Keep a safe on-site to store small amounts of cash, essential documents, or other valuables. Change the combination frequently.
  3. Install security cameras in strategic places throughout the premises, placing emphasis on entryways and cashier locations.

Regarding employees

  1. Complete background checks before hiring.
  2. Train your employees on how to open and close the location safely.
  3. Train employees on protocol if a robbery should happen, reminding them never to endanger themselves to protect the business.
Your Crime Insurance Experts

Chapman Insurance Group wants to make sure your HOA is protected against crime. Contact an agent today for a free quote on crime insurance
coverage for your HOA.

Have a question?
Talk to an expert.

If you’re an HOA board member, we can help answer your crime insurance questions. Talk to one of our agents to find a policy that works for you.

Find an agent in your area.

Crime Insurance Policies for Homeowners Associations in Cape Coral, Fort Myers, Naples, Port Charlotte, Punta Gorda, and Bonita Springs.

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