Do Subdivision HOAs Need Insurance in Virginia?

Hi Beverley,

There is no law in Virginia that specifically requires HOAs to have HOA insurance. But, the Virginia Property Owners’ Association Act Section 55.1-1827(B) does require HOAs to obtain a blanket fidelity bond or employee dishonesty insurance policy if it collects assessments for common expenses. Regardless, it’s still wise to consult a lawyer and insurance agent to understand your HOA’s insurance needs.