When a pipe bursts inside a condo wall or a major storm rips the roof off a townhouse, everyone immediately asks the same question: “Who pays for this?” Is it the owner’s personal policy, or does the HOA’s master policy handle it? The truth is, community association insurance is one of the most misunderstood, complex, and potentially expensive topics in real estate.

In this episode of “Let’s Talk HOA”, host Kelly Hawkins sits down with Chuck Kiser, Senior Vice President at IMA Financial Group, to strip away the jargon and expose the hidden traps in community insurance policies.

From the dangers of “cheap” coverage to the hidden conflicts in your governing documents, this episode is a must-listen for board members and homeowners alike.

In this episode, we break down:

• The “3-Bid” Misconception: Why shopping around with multiple insurance agents actually backfires and blocks you from getting the best carriers.
• Good vs. Bad D&O Insurance: What Directors & Officers liability really protects, why “add-on” policies fall short, and why proper defense coverage is critical for volunteer board members.
• Maintenance vs. Insurance Responsibility: Why who maintainsa structure isn’t always who insures it and how reading the wrong section of your CC&Rs can lead to catastrophic financial surprises.
• The #1 Claim (Water Damage): How stacked condo laws (like NC Chapter 47-C) dictate water claims, and why carrying a high master deductible can actually protect your community’s long-term budget.
• Emerging Insurance Risks: The truth about skyrocketing percentage-based wind/hail deductibles, actual cash value roof schedules, and ordinance/law coverage gaps.
• HO-3 vs. HO-6 Policies: What individual unit owners must look for in their personal coverage (including loss assessment and betterments) to avoid paying tens of thousands out of pocket.

Connect with Main Street Management Group:

• Website: mainstreetmanagers.com
• Share Your Story: Have a question about a claim or a story from your own neighborhood? Reach out via our website’s contact form!

Guest Contact:

• Chuck Kiser (IMA Financial Group): chuck.kiser@imacorp.com

Subscribe & Follow: Insurance is your community’s ultimate financial recovery tool. Don’t wait for a disaster to find out what your policy covers.

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Produced by: Main Street Management Group & Charlotte Content Marketing