Armed Security Guard: Why is my homeowner’s association (HOA) insurance in Florida so expensive?

Homeowners associations are found in a large number of communities across Florida. They are designed to help the homeowners with aspects of security, privacy, convenience, and more. HOA insurance is often expensive, especially if you decide to have an armed security guard on premises.

What Armed Security Guards Do

Often, it’s important to have an armed security guard on premises. They might be at the guard gate as a way of preventing unwanted visitors into the community. They would be responsible for vetting anyone who doesn’t have a pass to let them inside of the community, most of the time to visit a specific resident.

In some instances, the armed security guard would be responsible for driving around the community. They would be able to alert authorities if they saw anything that could be considered a security threat. Residents will often feel safer if they know that there is a guard on premises at all times. Guards will also be able to break up issues that they see as they drive around, such as kids causing trouble or neighbor disagreements.

Why is HOA insurance expensive?

HOA insurance in Florida is expensive for a variety of reasons. It will be more expensive if there have been a lot of claims in the past. Having a guard improves security. However, because the security guard is armed, the insurance premiums are higher because of the risk that is carried. If the security guard were to shoot someone, the HOA might be held responsible for the injuries and/or damages.

You will be able to keep HOA insurance affordable in many ways. Keep the number of claims down. Ensure that you train all of the security guards. Determine if you need the security guard to be armed or not. It might be easier (and more affordable) if they aren’t armed. You should always check to see what the cost of insurance is going to be from several insurance companies.

Ultimately, you want to make sure that your homeowner’s Association is doing everything that they can in order to keep the property safe. Homeowners look to the HOA as a way of living in a safe and secure community. The more expensive the insurance is, the more expensive the HOA dues will be. You don’t want to get into such a situation where you are having to increase the cost so much that homeowners begin to get upset.

The best thing that you can do is contact an insurance agent who works independently. They can contact the different insurance companies that offer homeowners association insurance on your behalf. It will allow you to learn what kind of coverage you need and get the most affordable policy possible.