HOA & Condo Association · answer
Your property manager shops HOA insurance every year. Is another opinion worthwhile?
Another opinion is useful when it clarifies what was already shopped, identifies additional suitable options, or helps explain a significant price difference. Coordinate the review with your property manager so everyone works from the same information.
Annual shopping is a starting point
Your property manager may already be doing exactly what the board requested: gathering renewal information and asking the broker to shop. Yet the alternatives can still look similar to last year's.
One question is whether the search reached different insurers. Brokers can have overlapping carrier access. Asking another broker for quotes does not, by itself, establish that a different set of options will be considered.
Ask three questions before starting another review
Which insurers were approached? Ask for a market summary and the outcome of each approach, where available.
What would this review add? Ask the second broker whether they expect to explore other suitable options or provide a clearer comparison of the existing proposals.
Who will coordinate the process? Agree on the property manager's role, the information needed, and when the board needs an answer. Have the brokers explain any insurer submission or representation requirements before proceeding.
Help your property manager bring the board an answer
Frame the request around the board's budget: can another review identify a better premium, and what would change if the association selected it?
Share the current renewal proposal and the results of the existing search. This keeps the conversation specific and makes the manager part of the solution.
Request another look from BIG
BIG works with Minnesota association boards and property managers reviewing master-policy options. Tell us what has already been shopped and when you need a decision. We can discuss whether a Premium Relief Check would be useful for your association.
Sources
- Insurance Information Institute: Saving on business insurance (checked 2026-09-08)
Related resources
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How to find lower-cost HOA and condo insurance in Minnesota
Start by finding out which insurers have already reviewed your association, then ask whether other suitable options are available. Compare the total annual cost and any changes to the policy before deciding whether another quote is a better deal.
Read more →What is the best insurance for an HOA master policy?
The best fit depends on your association, the insurers willing to quote it, and the price and terms they offer. Start with a comparison built around your actual property instead of a generic ranking of insurance companies.
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