Why Condo Associations Need Insurance in Arkansas
Managing a condo community in Arkansas isn’t just about landscaping and collecting dues—it means taking on real legal and financial responsibility. From roof damage after a hailstorm to slip-and-falls in shared hallways, one unexpected event can threaten your entire association’s future.
That’s why the right insurance policy is more than a formality—it’s essential protection for your buildings, your board, and the residents who call your property home.
Whether you're overseeing a high-rise in Little Rock or managing a quiet condo community in Fayetteville, G&G Independent Insurance makes sure your association is prepared for the unexpected, so your board can focus on what matters most: creating a safe, thriving place to live.
Want to explore Arkansas-specific insurance regulations? Visit the Arkansas Insurance Department.
What Is Condominium Association Insurance?
Condominium Association Insurance—also known as a master condo policy—protects the shared property and financial stability of the community. It covers what individual condo owners’ policies (HO-6) don’t.
Typical coverage includes:
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The building’s exterior (roof, siding, foundation)
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Common areas (lobbies, hallways, stairwells, elevators, pools, gyms)
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General liability for injuries in shared spaces
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Optional add-ons like flood or equipment breakdown coverage
If a storm damages the roof or a guest slips in a shared hallway, this policy steps in—not the individual unit owners' insurance.
Is Condominium Association Insurance the Same as Condo Insurance?
No—they serve different purposes, and both are essential.
Condominium Association Insurance (Master Policy)
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Purchased by the condo association
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Covers shared structures and spaces
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Protects the association against property and liability risks
Condo Insurance (HO-6 Policy)
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Purchased by individual unit owners
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Covers the interior of the unit, personal belongings, and personal liability
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Fills in the coverage gaps not handled by the master policy
Example:
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If a hailstorm damages the roof → Master policy pays
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If a kitchen fire damages a unit’s cabinets → Unit owner's HO-6 policy pays
Both policies work together to ensure full protection for the condo community and its residents.
Master Policy vs. Individual Condo Insurance: What’s the Difference?
| Coverage Type | HOA/Master Policy (Association) | HO-6 Policy (Unit Owner) |
| Covers exterior structure? | ✅ Yes (walls-out) | ❌ No |
| Covers interior walls & fixtures? | ❌ No | ✅ Yes |
| Covers common areas (e.g. lobbies, pools)? | ✅ Yes | ❌ No |
| Covers personal belongings? | ❌ No | ✅ Yes |
| Covers personal liability (inside unit)? | ❌ No | ✅ Yes |
| Covers liability for shared spaces? | ✅ Yes | ❌ No |
| Pays HOA board legal fees (D&O)? | ✅ With optional coverage | ❌ No |
Bottom line: The HOA’s master policy protects the outside and shared spaces, while individual unit owners are responsible for everything inside their four walls—including personal property, fixtures, and liability inside their unit.
Want help making sure your policy lines up with your association's coverage? Our team at G&G Independent Insurance can walk you through it step by step.
What Does Condominium Association Insurance Typically Cover?
Condominium association insurance in Arkansas is like a well-stocked toolbox—it’s designed to protect your community’s shared spaces, physical assets, and leadership team from a wide range of risks.
For more in-depth coverage options tailored to condo buildings and multi-family properties, check out our Habitational Insurance page.
Here's what a standard master condo policy typically includes:
Common Property Coverage
Protects shared structures and spaces, like roofs, exterior walls, lobbies, stairwells, gyms, and pools. Whether it’s fire damage to the clubhouse or hail taking out the roof, this coverage helps pay for repairs.
General Liability Insurance
Covers legal and medical costs if someone is injured in a shared area, like a slip on icy sidewalks or a trip near the mailboxes.
Directors & Officers (D&O) Liability
Safeguards HOA board members personally if a decision leads to a lawsuit. This helps cover legal defense costs and settlements tied to board-related actions.
Optional Add-Ons for Next-Level Protection:
- Flood Insurance – A must for flood-prone areas or buildings near waterways.
- Cyber Liability – Helps if your HOA website or payment portal is hacked.
- Crime Insurance – Covers fraud, theft, or embezzlement involving HOA funds.
No two condo communities are alike. Whether you manage a few units or a multi-building complex, the right policy makes all the difference. That’s where G&G Independent Insurance comes in—we help you build the perfect coverage mix, without the guesswork.
FAQs About Condominium Association Insurance
What does condo association insurance cover in Arkansas?
It typically covers common areas (like hallways, roofs, and lobbies), shared structures, general liability for accidents, and even board member protection through D&O insurance.
What’s the difference between individual condo insurance and the HOA/master policy?
The HOA’s master policy covers shared spaces and building exteriors. Unit owners need their policy (HO-6) for personal belongings, interior walls, and liability inside their condo.
Do we need liability insurance for common areas?
Absolutely. If someone slips on icy steps or gets injured in a shared gym, liability coverage helps protect your HOA from lawsuits and costly legal bills.
For more detailed insurance definitions and guidance, visit the Insurance Information Institute
How much does condo association insurance cost in Arkansas?
Costs vary based on location, building size, number of units, and coverage types. But don’t worry—G&G Independent Insurance can shop 50+ companies to find your best rate.
What type of insurance should a condominium association have?
At minimum: property insurance, general liability, and D&O coverage. Optional extras like flood or cyber liability can offer added peace of mind.
Is Condominium Association Insurance the same as Condo Insurance?
No. Association insurance covers shared structures and common areas, while condo insurance (HO-6) protects the interior of a unit and personal belongings.
Choosing the Right Condominium Association Insurance in Arkansas
Finding the right condo association insurance isn’t just about meeting requirements—it’s about protecting your community with confidence. Here’s how to make the smartest choice:
Top Tips for Selecting the Right Policy
1. Work with Local Experts
Partnering with an Arkansas-based agency like G&G Independent Insurance means you benefit from in-depth knowledge of local weather risks, legal regulations, and condo community needs.
2. Understand Your Bylaws
Your condo association’s governing documents often spell out what the HOA must insure versus what’s up to individual unit owners. Make sure your policy aligns with those responsibilities.
3. Review Your Coverage Annually
Property values, building conditions, and liability exposure change over time. Schedule an annual insurance review to keep your coverage up to date and avoid unexpected gaps.
4. Compare Quotes Wisely
Don’t settle for the first quote you receive. G&G shops policies from over 50 top-rated carriers to find the perfect balance of cost and coverage—without the headache.
Why Condo Associations Trust G&G Independent Insurance
When it comes to protecting Arkansas condo communities, G&G delivers more than just policies—we deliver peace of mind.
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Local Expertise
We know Arkansas—its laws, climate risks, and condo regulations—so your policy is always in sync with real-world needs. -
Tailored Coverage from 50+ Carriers
No cookie-cutter plans here. We customize your policy based on your property’s size, location, and bylaws. -
Reliable, Ongoing Support
Whether you're filing a claim, adjusting your coverage, or renewing, a real local agent will be in your corner every step of the way.
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Protect Your Condo Community Today
Don't leave your condo association vulnerable to unexpected risks. With G&G Independent Insurance, getting the right coverage is easy, affordable, and backed by experts who care about your community.
We’ll compare quotes from over 50 carriers, customize your policy to fit your bylaws, and help protect every shared space—without the stress.
Get your free condo association insurance quote today!
Or call us at (479) 802-0086—we’re here when you need us.
