Surety One, Inc. is a fidelity bond specialist. We offer twenty-nine years of experience underwriting fidelity and surety bond products to individuals and businesses in all fifty states, Puerto Rico and the U.S. Virgin Islands. The following is helpful information for understanding your particular jurisdictional requirement and generally what protection a commercial crime policy provides. Should you have questions about a homeowner's association fidelity bond, condominium owners' association fidelity bond or related insurance product we are always available to you at (800) 373-2804, by email at Underwriting@SuretyOne.com or click here for live chat.

Fidelity Bonds and Federally Regulated Condominiums and Cooperatives

With a few statutory excpetions, FreddieMac requires condominium associations and "cooperative corporations" to maintain a fidelity bond that meet the following criteria:

In States that require condominium homeowners associations or Cooperative Corporations to carry fidelity bonds on terms or conditions different from Freddie Mac's, Freddie Mac will accept compliance with the state's requirements to be adequate for Freddie Mac's.

The condominium onwers assocation fidelity bond must cover losses resulting from dishonest or fraudulent acts committed by directors, officers, managers, trustees, employees and volunteers who handle or manage funds collected and held for the condominium homeowners association or cooperative corporation. A professional property management firm is NOT exempt. It must be to the same coverage level as a COA or cooperative that manages its own operation.

Bonding of Service Providers

If your association hires outside general contractors, landscapers, janitors, pool and miscellaneous maintenance services, those parties should be covered by a third party fidelity bond to protect the association members' property from loss due to dishonesty. Business services bonds are inexpensive and well worth the investment.

Fidelity bond application review and quoting are free of charge. There is no obligation to purchase.

HOA & COA News Feeds

HOAleader

Veteran Condo/HOA Board Members Shut Out Newcomers [HOAleader.com Video]Help Could Be on the Way for Condos/HOAs That Want to Restrict RentalsCan They Do That? When Condo/HOA Board Members Refuse to Be Team PlayersNo Good Deed Goes Unpunished: The Challenge of Surveying Condo/HOA OwnersWhen Did Walking in Your Own HOA Become Objectionable?Walkers Trigger Owner�s Alarm: Should This HOA Board Get Involved?Dissenting Board Member Wants Condo/HOA Board to Broadcast His ArgumentDoes Condo/HOA Board Have to Give Dissenting Board Member a Platform?HOA Board Governance: A Model Code of Conduct for Board MembersWhy Your Condo/HOA President Isn�t Quite the Same as a Corporate CEOCondo/HOA President v. Corporate CEO: What�s the Difference?AI to the Condo/HOA Board Rescue! (Could That Happen?) [HOAleader.com Video]Who Owns Your Condo/HOA Management Software, and Does It Matter?Is AI the Answer to Your Condo/HOA Board Vacancies?Are Condos/HOAs Increasingly in a No-Win Situation?What�s a Condo/HOA Inspection Policy, and Should You Have One?HOA Named as a Defendant After Owner Shoots Teen who Knocked on the Wrong DoorOne Notice of Special, Stuck in Spam: Should the Condo Waive Late Fees?Setting Boundaries with Tenant Leads to Lawsuit: Could This Condo Have Avoided This?When Condo/HOA Owners Say They Didn�t Know a Special Assessment Was PassedTrue or Not? Reader Says More Condos/HOAs Are Financially CollapsingAre More Condos/HOAs Going "Belly Up"?Owner�s Action Leads Condo to Lose Insurance, So It SuedThe Lessons You Can Learn from a Condo Board That Made All the Right Moves, Ousting a Bad AppleKarma? Is That You? California Court Penalizes Owner for Condo�s Loss of InsuranceWhy This Board�s Private Facebook Group Is Risky Condo/HOA Business [HOAleader.com Video]Can Your Condo HOA Developer/Declarant Sell and Assign Their Rights?Is a Board Conducting Condo/HOA Business If It Uses a Private Facebook Group?Condo/HOA Pools Are Expensive: What to Know About Getting Rid of This AmenityCondo/HOA Pool Season Is Coming Nationwide: Is It Time to Pave It Over?When the Condo Docs Say Nothing About Leaky SkylightsWho�s Responsible for Maintaining Skylights: Condo or Owners?Corporate Transparency Act: Time for Condos/HOAs to Hurry Up and Wait to Comply?The Latest on the Burdensome CTA: What Your Condo/HOA Should Do NowWhat�s Up With Indiana and HOAs? First Bees, Now Lemonade StandsBig New York Condos Must Now Track Emissions: Will More Cities Follow?HOA Wants to Charge "Initiation" Fee: Is This Semantics or a New Fee?New York�s Law: Is This the Beginning of Carbon Regulation for Condos/HOAs Across the Nation?Condo/HOA Recalls Are Spiking: Are You Doing All You Can to Avoid Them?How Bad HOA and Condo Boards Hurt Themselves: Expert Community Managers Offer "Tough Love"What Documents Must Your Condo/HOA Provide to Potential Buyers?What You Need to Know About the Growth in Condo/HOA Recall ElectionsWhen Your Condo/HOA Board Is Controlled By a Few, and You Feel Powerless [HOAleader.com Video]Your Best Move When Your Condo/HOA President Is Freezing You OutWhy We�re Not Sure an HOA Board Member Claiming to Successfully Use AI Is RealThe Curious Response We Got to Our Search for Condo/HOA Boards Using AIBest Practices as More Condo/HOA Boards Face Owners' Age, Mental Health Crises [HOAleader.com Video]Who Knew Beehives Were Abuzz in HOAs?Your Residents Are Likely Aging In Place: What�s Your Condo/HOA�s Role? [HOAleader.com Video]HOA Board Members Want to Create a PAC: Our Experts Respond, "Whatever For?"

Community Associations Network

Aventura high-rise fails to comply with 40-year recertification, residents wonder what’s next (FL)Work to empty troubled complex nears end (IN)1 in 7 Floridians lacks homeowners insurance despite major climate risksFlorida Housing Market Faces ‘Nightmare Scenarios’ as Deals CollapseOn Hawaii Island, government and citizens are joining forces to better prepare for wildfiresJudge halts all work on RaceTrac site ahead of trial date (TX)Large hole appears behind Arnold homes following heavy rains (MO)Colorado Springs homeowners shocked by a $14,000 bill from their HOA (CO)Old condos crowd market as prices drop. Surfside reforms are one reason (FL)Some Residents Feel ‘Trapped’ at Cedar Crossing Development (NJ)Fairfield Harbour residents protest $6.5 million clubhouse, asks POA board for voting rights (NC)Citing complaints, Highlands Ranch Community Association switches assessment pay systems (CO)What happens if no one wants to be on the HOA board?Dog boarding business likely violates association rules (IL)Fake ‘private property’ signs spring up on wealthy Calif. city’s beachResidents at Marina del Rey condo complex believe arsonist is targeting building (CA)Highland Oaks residents have mixed feelings about annexing into Lubbock city limits (TX)$55,000 of Kendall condo association money was found in a personal bank account, cops say (FL)Kiawah Island development opposition continues, attorneys now involved (SC)Do short-term renters have same rights as owners when it comes to having service dogs? (FL)