HOA Policies in Mexico

Homeowners master associations in Mexico deserves and expects the best service for their maintenance fee, which includes the payment of the building/HOA association policies to protect the towers and communal areas. This important yearly amount should provide more than just the HOA coverage; it should include the specialized risk management services that an insurance broker, with this experience, can provide by handling the insurance program, but with the commitment to work as a permanent consultant.

Our Gol

Our main objective working with HOA administration and Board is to focus on the condominium safety and risk management of the daily activities, to avoid and control hazards, be prepared for natural phenomena and provide the proprietaries with contingency plans.

We specialize in these types of operations. We have more than 30 years of experience working with finance officers and risk managers of international corporations with beachfront risks.

Once the decision has been taken about the risks that will be transferred from the master association to the Condo master policy, we negotiate with the best underwriter that can meet the Master association and Novamar requirements in financial strength, claims and customer service oriented.

Risk management and insurance program

  • Property Damage
    • Identify and evaluate the risks based on daily operations
  • Values and limits
    • Replacement Value Analysis
    • Analyze the assets values to establish the accurate limits and sum insured
    • Common Area Inventory
    • Equipment more than 10 years old extension
    • Audit of insurance coverage vs. replacement and or actual cash values
    • Create and gather all the documents and values requested to establish the replacement value of your assets: Inventory of Common Areas
    • Deductible and Coinsurance analysis
  • Liability
    • HOA Board & Administration D&O Proposal
    • Liability exposures analysis
    • By-Laws and CCR´s analysis and suggestions
  • Business Interruption
    • Extra expenses analysis.
    • Contingency Business Interruption recommendations.
  • Meetings & presentations
    • Renewal Meeting
    • Follow Up meetings every 6 months
    • HOA Annual Meeting presentations
    • Engineering physical inspection
  • Condo owners personal contents
    • Master Policy Proposal to cover all units
  • Claims assistance
    • File Claims with the insurance company
    • Claim process work with the adjuster
    • Claims support in every claim and follow up until it is resolved
    • Create updated files with the documents and information requested by the insurance companies in case of a loss and a claim
    • Frequency and Severity Analysis
    • Emergency Fund
  • Renewal
    • Insurance Market Review
    • Anniversary Date Analysis
  • Reports
    • Annual Claims and Loss Report
    • Insurance Program Binder

What to do if a loss occurs