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

HOA Board Says Management Company Has Unilaterally Added New FeesFormer HOA Board Member: I Created That Board Email Address, So I Own It, Right?HOA Owner Leaves the Board But Resists Surrendering Their HOA EmailSmart, On-the-Spot Responses When Condo/HOA Owners Surprise or Challenge YouHow Expansive Does Your Condo/HOA Board Meeting Notice Need to Be?Owner�s Use of the HOA�s Meeting Room for Book Club Raises a Novel Question About Deposits [HOAleadeHOAleader.com Webinar Tip: Why An HOA Manager Says Physical Checks Should Always Go to LockboxesHOA May Be Losing More Goodwill Than Interest It Gains by Holding Onto Owners� Money [HOAleader.comLong-Term Fixes May Help Ease Your Condo/HOA Insurance PainDon't Get Soaked: What Your Condo/HOA Needs to Know to About Who Maintains, Repairs, and Pays to PreThe Alleged Roommate and a Condo Board In a Tough SpotStruggling to Get Affordable Condo/HOA Insurance? Our Experts Have IdeasOf All the Ideas to Save Money, This HOA Board Chooses This One?Bright Idea? HOA Board Considers Removing Streetlights to Save a BuckWhen You Need Raise Your Condo/HOA�s Assessments, But You�re Dreading the ComplaintsHOAleader.com Webinar Case Study: "Why Are Assessments Going Up Again?! Can�t We Just Cut the BAn HOA�s Special Assessment Work Has Stalled: Are the Idle Millions Collected Available for Other PrReasonable or Not: HOA Board Wants EV Charging Stations to Be InvisibleWhat Happens to Funds Your Condo/HOA Special Assessed for a Project That�s Now in Limbo? [HOAleader.California Case Sounds Fantastic for Condos/HOAs, But It May Not Be Much HelpCondo/HOA Leaders' Dos and Don'ts: The Roles and Duties of the HOA President, Secretary, Treasurer,Florida Says HOAs Must Permit Owners to Park Work Vehicles: Smart or Slippery Slope?California Court Gives Condos/HOAs Good News on Neighbor-To-Neighbor Disputes, But...Tempting! Just Charge Condo/HOA Owners Who Rent Higher AssessmentsReader Asks: Can We Charge Owners Who Rent Out Their Unit a Higher Fee?Feds Halt Enforcement of the Corporate Transparency ActTaking on a Big Project? Your Condo/HOA Manager Might Be Your Best Choice to Manage It (or Not)To Hire a Project Manager or Not? That Is the Question for Your Condo/HOAHow to Make Your Board Meetings Faster (Maybe. If Your State Permits It. And It�s Not a ControversiaIs Your Condo/HOA Board Going Overboard With Meetings?When Approving Your Condo/HOA Business By Consent Is a Huge Bonus [HOAleader.com Video]How to Determine Which Condo/HOA Amendments To Pursue Together and SeparatelyHow to Protect Yourself and HOA from the Neighborhood SociopathWater Damage: Who Pays When the Condo/HOA Documents Are Silent?When to Bundle Amendments to Your Condo/HOA Documents, and When to Break Them into Smaller BitesFlorida Condo Owners Are Bailing: Why You Should Be Paying AttentionIs the 118 Percent Increase in Florida Condo Listings an Ominous Warning?Is a Condo/HOA Secretary Right That Minutes Are Totally Their Call?Messy Minutes: Should These Details Be Included in Condo/HOA Minutes and Who Decides?HOA Owner Sues City; City Countersues HOA: A Warning of What�s to Come? [HOAleader.com Video]City Tries to Shift Liability for Owner�s Sewer Damage onto HOA [HOAleader.com Video]HOA President Boldly Takes Charge, Secretary/Treasurer Rebels: Can They Get Past This?Feeling Unappreciated By Your Condo/HOA�s Owners? It�s Normal (And We Appreciate You!)Who�s In the Wrong Here? The Condo President or the Secretary/Treasurer (Or Both)?The Problem with a Condo Owner Being Fined $500 for a Guest�s Sandwich at the PoolCommon Area Tree Debris Falls on HOA Owners� Roofs: Who Gets the Cleanup Job?The Arguments For and Against a Fixed and Firm Condo/HOA Fining ScheduleAn HOA, a Kids� Playground, and a DIY Sunshade: What Could Go Wrong?Would This HOA Board�s DIY Suggestion Give Our Experts Pause?8 Ideas to Help Your Condo/HOA Stay Insured and Lower Costs

Community Associations Network

Wolf Ranch community petitions to install license plate camera reader to curb crime (CO)Blowing Sand Creates Ongoing Frustration for Verano Residents in Cathedral City (CA)King George Board of Supervisors facing more legal challenges (VA)Fire safety concerns at the Cherry Blossom Townhomes (OR)Progress Report: Will Reforms Stabilize Hawai?i Condo Insurance Costs?Clearwater condo evacuated for structural concerns — here’s what a 2024 safety inspection found (FL)Las Vegas condo complex with history of constant fires begins demolition (NV)Six Displaced, One Injured in Riverside Condo Fire (CA)May 17 HOA/POA Quarterly Meeting to feature discussions on the City’s economic development strategy, bulk waste pickup, and public engagement (GA)El Dorado Hills neighbors join forces for fire safety (CA)North Topsail condo owner says town is ignoring building safety concerns (NC)Protest period opens for proposed Castlewood assessment (CA)Residents speak out after evacuating Clearwater condo building with crack found in support column (FL)Bracey’s River Ridge subdivision HOA board hit by resignations (VA)Evacuations ordered at Clearwater high-rise after structural crack discovered (FL)Huge beach concert moved after condo owners sue to stop it, Jersey Shore mayor says (NJ)Gov. DeSantis disses House over condo bill, says changes ‘should have been done in January’ (FL)‘A bittersweet beginning’ to famed Las Vegas condo complex demolition (NV)Musk clashes with neighbors in exclusive Austin suburb (TX)Will a legislative revamp stabilize Florida’s condo market?