Do HOAs really need Stop Gap and Environmental Impairment Liability Insurance

Started by CathyT1 • 2 replies • 2077 views

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CathyT1 (Washington)
Posts: 68

Posted:

Do HOA insurance policies really need stop gap or environmental impairment liabilility insurance? If so, for what purpose.

These two options are part of our package option list and we're undecided on whether we need it or not.

Thanks,
Washington State

BrianB (California)
Posts: 2,820

Posted:

not sure about stop gap, but the environmental all depends on where your accociation is. If you are in the middle of a city, probably not. if you are rural, near a protected wetlands, federal wildlife area, etc., it might not be a bad idea to get more opinions about it.

CathyT1 (Washington)
Posts: 68

Posted:

we are near wetlands and have a retention pond; also our community property line is backed by a water tower and electrical substation

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