Arizona HOA and condo master policy insurance quotes

Burch Insurance Group quotes master policies for Arizona condominium and townhome associations: common-element property, liability and the deductibles owners must be told about each year. If your renewal is up sharply or the carrier is leaving, send it to us before the board decides. Licensed in Arizona.

What Arizona law asks a condo association to carry

Under Arizona Revised Statutes section 33-1253, an Arizona condominium association must keep, to the extent reasonably available, all-risk property insurance on the common elements (and the units, if the condominium documents require it). After deductibles, the insurance must be at least 80% of the property's actual cash value when bought and at each renewal, excluding land, foundations and other items normally excluded. It must also carry liability insurance for the common elements in an amount the board or association sets, but no less than the declaration requires. If coverage is not reasonably available, owners must be notified promptly.

Deductibles and claims

• Each year the association must tell every owner in writing what they are responsible for under the association's deductibles and how much each deductible is (section 33-1253(K)).
• Before an owner reports a loss to the master policy, the owner reports it to the association, which has ten business days to say in writing whether it will file a claim (section 33-1253(E)).
• Losses are adjusted with the association, and proceeds go to the association or an insurance trustee, not to a lender (section 33-1253(F)).

A note on value

Arizona's minimum is stated in actual cash value, not replacement cost. Many boards still choose replacement cost; we quote both so the board can compare.

What to send for a quote

• Current declarations page and renewal
• The insurance section of the declaration
• The most recent deductible notice to owners
• A building list with year built, roof age and construction
• Loss history for the last five years

Questions Arizona boards ask us

Does an Arizona condo association have to insure the units? Only if the condominium documents require it. The policy need not cover owner improvements or personal property (section 33-1253(A) and (B)).

Do we have to tell owners about our deductible? Yes, in writing every year, with the amount.

Can an owner file directly on the master policy? The owner must report to the association first and wait for its written decision, up to ten business days.

Request a master policy quote

Request an HOA master policy quote, or call 612-712-6407. Include the renewal date and current policy if you have them. Keep the existing policy in force until replacement coverage is confirmed in writing. For more on comparing proposals, read our guide to the best HOA master policy.

Burch Insurance Group is licensed in Arizona.