Certificates of Insurance Content
Business owners, vendors and contractors completing work at properties and individual units, including any/all third-party and/or sub-contractors doing work on their behalf, are required to provide adequate proof of insurance coverage prior to work commencing and throughout the duration of any project. Please note the minimum insurance requirements listed below, which may need to be enhanced depending on the project and/or the Association’s governing documents.
Building Insurance Requirements
- Insured Name section: Must list exact legal name of contractor.
- Certificate Holder section: Must list the exact name of the Association.
- Additionally Insured section: Must state exactly (no abbreviations) “Hales Property Management, Inc.” and The Board of Managers for [XYZ] Condominium Association
- Authorized Representative section: Must be signed
- Cancellation section: Must include that notice “will be delivered”
- Coverage minimum requirements are $1,000,000 for General Liability coverage and $300,000 for Workmans Compensation coverage
Resident Insurance Requirements
Unit owners inquiring about insurance requirements for projects they are completing within their own unit need to provide a Certificate of Insurance (COI) from their contractor which lists the Unit Owner as the certificate holder and the Association, as well as “Hales Property Management, Inc.” as an additional insured. Unfortunately, as we are not contracted to manage such individual projects directly with the owners, we are not authorized to verify sufficiency of coverage. For coverage requirements, homeowners should consult their homeowners insurance policy agent, as well as their Association’s Rules and Regulations. If the work may effect any common areas of the building then they should also consult with the Association’s insurance agent for guidance.