Oklahoma Condominium Association Insurance

Professional Insurors offers valuable and cost-effective insurance and risk management programs for the industry.

Our Oklahoma Condominium Insurance Program features a dedicated claims and risk management team so you can be confident that your claims are supervised by an in-house claims advocate that understands your industry. The Oklahoma Condominium Association Insurance program was designed for associations with smaller unit counts to the larger associations. We also offer insurance coverage for condo Property Managers.

What is covered in Condominium Association Insurance Policy?

Condo Association Insurance generally only deals with the common areas of the building(s) but can also include building exterior property coverage.

Who needs Condo Association Insurance?

Condominiums are a unique living infrastructure in which building owners own a portion of the balding in which he or she lives, and shares common areas and other factions of the building property. Thus, there is a bit of complexity in the notion of shared ownership giving rise to the formation of a condo association.

Members of each condo association come together on behalf of the entire condo to make decisions regarding expenses, repairs, etc., while simultaneously establishing bylaws that govern the complex.

The Condo Association is also tasked to purchase insurance for the condo to cover the risks associated with shared areas not owned by the condo unit owners.

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General Liability Insurance

CGL is a business insurance coverage written to cover your exposure to 3rd party claims for bodily injury, property damage, or personal injury or lawsuits.

Coverage Options:

  • Assault & Battery (coverage included)

  • Hired & Non-Owned Auto Liability

  • Host Liquor Liability

  • Property Manager Automatically Covered

  • Swimming Pools and Lakes

Property Insurance

PI covers the risk of property loss in a variety of commercial insurance situations, including commercial buildings, equipment, furniture, fixtures, inventories, business records, supplies and other physical items.

Coverage Options:

  • Buildings owned by Association

  • Building Ordinance and Increased cost of Construction

  • Boiler Coverage

  • Equipment Breakdown Coverage

  • Loss of Rents Coverage

  • Extra Expense

  • Blanket Limits for Large Risks

  • Equipment Breakdown Coverage

  • Fences

  • Playground Equipment

  • Signs

Directors & Officers Liability

Essentially an E&O policy for the management of a privately owned company. Helps protect the personal assets of a company’s Directors and Officers as well as the company’s financial well-being.

Coverage Options:

  • Breach of Contract coverage now Included

  • Third Party Harassment and Discrimination Claims Coverage

  • Punitive Damages with Most Favorable Venue included where insurable

  • Lifetime occurrence reporting provision

  • Full Prior Acts coverage

  • Defense Outside Limits of insurance (unlimited)

  • Employment Practices Liability Included for no cost

Additional Available Coverage: