Natural disasters are unavoidable and can only be prepared for so much. With hurricane season and summer fast approaching, now is the perfect time for HOAs to brush up on their disaster planning and get out ahead of insurance-related issues. Having the right resources and information nearby and making a plan around them will help any HOA be proactive in preparing for the worst this summer.
HOA Insurance Coverage
First, no matter what time of year it is, having HOA insurance coverage in place before disaster strikes is the key to a healthy HOA. Having HOA insurance coverage, such as excess policies or directors & officers, will help to provide the right protection against such events as floods and fires. Having HOA insurance coverage is the first line of defense to protect communities when trying to recover from an event that leaves damage behind.
Contact Information for All Members
Disasters, whether they’re manmade or natural, can strike at any time. No matter what kind of disaster is at hand and how it started, it’s important to have all the contact information needed to keep members informed and connected. In the event of an explosion or flood, HOA leaders may need to evacuate all of the residents of the area. Having simple contact information will allow HOA leaders to effectively stay in contact with as many people as possible.
Emergency Response Plan
Any and all HOA’s need a dependable emergency response plan that includes all information and resources needed to keep members safe. This can include evacuation routes such as alternative routes in case usual routes aren’t safe, and information about how evacuations will be determined.
Emergency response plans should also include contact information of all local first responders and aid organizations that can help to take care of emergency evacuation and putting out fires or cleaning up spills.
Additionally, plans should highlight the individuals who are responsible for taking care of specific tasks like notifying residents and coordinating recovery efforts following the emergency event.
Budgeting for Disasters
HOA disaster recovery plans need to include a budget that features the running totals of the budget, and methods for adding additional funds to the budget if necessary, such as fundraising, raising funds from homeowners or pulling funds from other sources.
Disaster management plans for HOAs should consider budgeting for cleanup and remodeling of things like communal pieces, for example, playgrounds and swimming pools. Budgets should consider how things will be repaired and how financial assistance will be provided to residents through the process.
Gathering Help However Possible
Throughout an HOA, there are residents with different needs and different skill-sets who can provide feedback when it comes to creating a disaster management plan. HOAs should gather information about individuals who are in a position to provide help to the elderly or handicapped.
Also, HOAs should be in conversation with any residents who have specific skills that will be useful throughout the recovery process as well as vendors who have been pre-approved to take care of physical recovery following an emergency.
Again, there’s only so much preparation you can do to stay ahead of disasters in your community. Having an outline of an emergency plan will help to be aware of the risks as well as what to look for in the recovery process.
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 (877) 807-8708 to speak with one of our representatives.