November 24, 2025 | Mark Luis Foster

When we ask our network members what they’d like to see at future chapter meetings for topics, the subject of insurance comes up often. After all, insurance prices have been spiking for HOAs and other homeowners over the past five years, forcing some HOAs to make some significant changes in coverage types and collection logistics. The reasons for the increases are complex, but it’s all blamed primarily on significant weather-related damage across the country.

To get things more under control, some HOA boards have converted from all-in insurance to bare walls. Here in Lakeville where I serve on the board, we made that move on June 1 and ended up saving more than $100,000 when the policy renewed in October. The change to bare walls coverage lowered our Total Insured Value (TIV) to a point where more insurance companies agreed to provide quotes for us. That is a far cry from where we were last year at this time, when we received exactly one (just one!) quote. And that seems to be a common theme across many HOAs in which we have members.

We are fortunate to have Eric Skarnes, president of Insurance Warehouse, as a sponsor of the network. He’s a featured speaker at ALL chapters in December. Eric is a great speaker and we highly recommend that all board members attend to hear more on this important topic.

Insurance is highly variable in these tumultuous times and it is hard for boards to plan ahead. Eric’s comments may make things easier and spark some ideas on how to position your association for a smoother ride.

Just a reminder that we ask that attendees of our chapter meetings join our network as members. Our membership is free and allows us to communicate with you weekly on HOA news, invites to meetings, access to HOA related videos and more. You can join HERE.

To RSVP to one of our December chapter meetings, go to our EVENT SCHEDULE and choose a chapter near you. We look forward to this informative series.