MEXICO HOA MASTER POLICY
The best Mexico HOA Master Policies understand risk and contingencies
Homeowners master associations in Mexico expect and deserve the best service for their maintenance fee. To that end, Novamar provides 30 years of specialized risk management service experience and a partner to help you navigate rough waters.
Novamar Mx HOA Master Policy Features
Identify and evaluate the risks based on daily operations.
IIncludes HOA Board & Administration D&O Proposal, Liability Exposures analysis, and By-Laws and CCRs analysis and suggestions.
Comprehensive Replacement Value Analysis: analyze the assets values to establish the accurate limits and sum insured. Gather documents and establish values needed to establish the replacement value of your assets, and inventory Common Areas. Equipment audit: more than 10 years old extension. Audit of insurance coverage vs. replacement and/or actual cash values. Deductible and Coinsurance analysis.
Analyze extra or unexpected expenses and provide Contingency Business Interruption recommendations.
Renewal meeting and follow-up meetings every 6 months. HOA Annual Meeting presentations. Engineering physical inspection.
File claims with the insurance company, help claims process work with the adjuster 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 to establish an Emergency Fund.
Master policy proposal to cover all units.
Insurance market review and Anniversary date analysis.
HOA Master Policy in Mexico
Homeowners master associations in Mexico deserve 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, with the commitment to work as a permanent consultant.
Novamar's Goal
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 property managers, as well as with insurance companies in an effort to provide the best solutions to the real needs of the Association.
Once you’ve made a decision regarding the risks that will be transferred from the master association to the condo master policy in Mexico, we’ll negotiate with the best underwriter who can meet the master association and Novamar’s requirements in financial strength, claims, and customer service.
With offices in the US and in Mexico, Novamar is always at your service.
With offices in the US and in Mexico, Novamar is always at your service.
Our Mexico office is fluent in English and Spanish, assuring a familiar voice when you need it most.
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Please provide some information to help us fulfill your request.This unique and exclusive policy in the market, created by Novamar in Mexico, protects the Homeowners' Association Board and the Administration Staff for errors and omissions in case they are sued.
Legal expenses included: The insurance company will assign the lawyer who will act in your defense. With this product the insurance company (GMX Seguros) agrees to pay the compensation that the Insured owes to a third party as a consequence of the Professional Civil Liability coverage, the damages comprise the loss or impairment of the assets of the Insured clients (Condo owners) caused by malpractice, inexperience or negligence, and the deprivation of any consequential lawful gain to the loss or damage of such assets.
*This policy excludes the countries sanctioned by the OFAC (Office of Foreign Assets Control
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