For New Mexico association boards and property managers
New Mexico HOA & condo association master policy insurance
Your board needs insurance that reflects the community it manages. BIG helps New Mexico HOA and condominium associations review master policies, compare available options and understand the terms behind the premium.
Founder Darren Burch is based in Albuquerque. Work with BIG by phone and online for an association in Albuquerque, Rio Rancho, Santa Fe or elsewhere in New Mexico.
For association policies arranged by boards and property managers. Individual unit-owner HO-6 quotes are outside this review.
Start with what the association owns and maintains
A condominium building, an attached-townhome community and an HOA responsible for shared amenities can present different insurance needs. Send the declaration, bylaws and a schedule of the property the association must insure. We use that information to discuss the appropriate master-policy structure.
Include clubhouses, pools, gates, walls, equipment and other common property when applicable. If buildings or improvements belong to individual owners, identify those responsibilities so the review does not start with assumptions about who insures what.
Review the property at its actual New Mexico address
Tell us about the construction, roof age, maintenance and any planned work. For a community near vegetation or a wildland area, include available information about access, vegetation management and fire-protection measures. The state insurance regulator provides wildfire-preparedness resources; a specific insurer still determines its own eligibility and terms.
Discuss water damage, wind or hail terms and flood exposure where relevant. A community’s location does not by itself establish what a proposed policy covers. Ask for the actual exclusions and deductibles, and whether separate coverage should be considered.
A renewal increase or nonrenewal needs a clear next step
Send the renewal proposal or nonrenewal notice with the deadline, current policy and recent loss information. We can review available markets and explain the information needed to approach them. Do not cancel existing coverage until replacement coverage has been confirmed.
Compare the annual premium with building limits, roof settlement terms, deductibles and exclusions. Ask which conditions must be satisfied before an insurer will bind coverage. Availability and pricing depend on the association and underwriting.
Work through the review with your property manager
Your property manager can coordinate the building records and current insurance documents while your board identifies its priorities. If several communities are approaching renewal, tell us which deadlines come first. Each association’s ownership, exposures and coverage decisions need their own review.
BIG can also discuss insurance for a management company or other managed properties as a separate request. We do not assume the association policy insures every activity of its property manager.
Association coverage
Coverage your association may need to review
Buildings and common property
Coverage for association-owned buildings, structures, equipment, and common areas.
Learn more →General liability
Protection for certain claims involving bodily injury or property damage connected to the community.
Learn more →Directors and officers liability
Coverage that may help protect board members and the association from certain claims involving management decisions.
Crime and fidelity coverage
Protection that may respond to certain theft, fraud, or dishonest acts involving association funds.
Equipment breakdown
Coverage for certain mechanical or electrical failures affecting covered community equipment.
Umbrella or excess liability
Additional liability limits that may sit above eligible underlying association policies.
The review process
A clearer way to review association insurance
Tell us about the community
Complete the review form and share the current policy when it is available.
We examine the coverage
BIG reviews property values, deductibles, limits, exclusions, loss information, and association responsibilities.
You receive a clear comparison
We explain available options in straightforward language so the board can make an informed decision.
Questions from association boards
Frequently asked questions
Can BIG review an Albuquerque or Santa Fe association master policy?
Yes. Start with the association address, unit count and renewal date. BIG’s founder is based in Albuquerque, and the team works with New Mexico boards and property managers by phone and online. Any offer of coverage is subject to licensing, carrier availability and underwriting.
Does every New Mexico HOA need the same property coverage?
No. The association’s ownership, governing documents, applicable law and actual property determine what needs review. A community with shared amenities may have different responsibilities from a condominium association insuring buildings.
What if our insurer will not renew?
Send the notice, deadline, current policy and loss information promptly. We can discuss available alternatives and what underwriting information is needed. A review does not guarantee replacement coverage.
Do you provide individual condo-owner quotes on this page?
This page is for the association’s master insurance program and the boards or property managers arranging it. It is not an individual unit-owner HO-6 quote page.
- New Mexico Office of Superintendent of Insurance: wildfire preparedness
- New Mexico Office of Superintendent of Insurance: condominium insurance and master-policy responsibilities
Coverage depends on policy terms, conditions, exclusions, underwriting, and applicable law. Insurance products and services are available only where Burch Insurance Group and the relevant professionals are appropriately licensed.