For many homeowners associations, financial instability doesn’t arrive in a single blow. More often, it builds gradually — through overlooked risks, unchecked processes, and minor breaches that accumulate over time. From embezzlement to phishing scams, these risks can quietly drain reserves and compromise long-term stability.
That’s why HOA risk mitigation must be proactive, strategic, and continuous. It’s also why insurance agents are uniquely positioned to help communities stay financially secure with forward-looking risk strategies.
Implement Crime Insurance Safeguards
Even the most well-run boards can fall victim to fraud. Internal checks are essential but not always sufficient to stop determined bad actors. Crime insurance acts as a financial buffer when those safeguards fail.
Consider these not-so-rare scenarios: A treasurer reroutes payments to a fictitious vendor for years before being caught. In another case, an HOA credit card is misused for personal purchases and discovered only during a routine audit.
Kevin Davis Insurance Services (KDIS) offers crime insurance designed to protect community associations against such risks, with coverage for:
- Employee dishonesty
- Forgery and alteration
- Theft of money or securities
- Computer fraud
- Funds transfer fraud
- Social engineering schemes
While it can’t prevent theft, crime insurance helps associations recover quickly, protecting reserves and restoring confidence when trust is compromised.
Adopt Cyber Liability Coverage
Cybercrime isn’t just a corporate problem; it’s a growing threat to HOAs. Associations store homeowner data, facilitate online payments, and manage vendor communications, making them attractive targets for cybercriminals.
Wire fraud, ransomware, and business email compromise are now common attack vectors. Without cyber liability insurance, even a single incident can trigger legal costs, regulatory penalties, and community-wide disruption. And with U.S. cybercrime costs projected to reach $15.63 trillion annually by 2029, HOAs can no longer afford to leave this exposure unaddressed.
Cyber liability insurance helps associations weather these storms by covering the following scenarios.
- Data breaches involving personal homeowner information
- Phishing or ransomware attacks
- Wire transfer fraud
- Business email compromise
- Legal costs and regulatory penalties
KDIS cyber coverage also includes forensic investigation and notification support — key for HOAs to navigate digital crises quickly and transparently.
Support HOAs With Expert Guidance
Boards don’t always know what risks they’re carrying until it’s too late. By helping boards assess exposures, identify coverage gaps, and implement the right protections, agents can move beyond transactional roles and serve as strategic advisors.
Working with Kevin Davis Insurance Services gives agents access to HOA-specific solutions and deep underwriting knowledge. With more than 40,000 associations insured nationwide, KDIS delivers practical expertise that reflects the day-to-day realities of community management.
Protect HOA Finances With Coverage
HOA risk mitigation isn’t just about responding to threats but also building resilience before issues arise. Crime and cyber liability policies help associations withstand both internal fraud and digital attacks. More importantly, they help preserve financial health, strengthen resident trust, and protect their reputations.
Call us today to learn how Kevin Davis Insurance Services can help your HOA clients fortify their financial future.
About Kevin Davis Insurance Services
For over 35 years, Kevin Davis Insurance Services has built an impressive reputation as a strong wholesale broker offering insurance products for the community association industry. Our president Kevin Davis and his team take pride in offering committed services to the community association market and providing them with unparalleled access to high-quality coverage, competitive premiums, superior markets, and detailed customer service. To learn more about the coverage we offer, contact us toll-free at (855)-790-7393 to speak with one of our representatives.