Your property manager shops HOA insurance every year. Is another opinion worthwhile?

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.

If you manage several communities, our Minnesota HOA insurance guide for property managers explains how to organize the association records, renewal dates and board decisions for a review. Start with the association that needs attention first and tell us what has already been shopped.