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

How to Avoid the Legal Pitfalls of Your Condo/HOA Camera System5 Tips for Smart Condo/HOA Camera System Policies and ProceduresCalifornia Condo/HOA Expert Says This Case Is An Example of What a Board Shouldn�t DoHOA Owners Kick Their Board to the Curb Over Heavy-Handed Enforcement5 Strategies to Combat Vitriol from Unofficial Condo/HOA Social Media AccountsWhen Developers Don�t Follow Their Own Condo/HOA Documents, How Should You Play Cleanup? [HOAleader.California Condo and Its President Hit With $1.8M Judgment: What You Should KnowTaking Over from a Condo/HOA Developer or Board That Looked the Other Way [HOAleader.com Video]HOA President Debates Sharing Their Personal Cell�With Good ReasonDebt Collection from A to Z: How to Create and Implement a Debt Collection System at Your HOAWho Should Have Your Cell Number for Condo and HOA Business?Are You Being Complacent About the Risk of a Recall at Your Condo or HOA?HOAleader.com Webinar: Don�t Let Your Vital Work Be Challenged�Or Undone�In a RecallWith Condo/HOA Budgets Bursting, It�s Worth a Few Hours to Hunt for Possible GrantsMissouri HOAs Can Apply for Local Grants: Are You Missing Out on Free Money in Your Area?Is This a Thing? HOA Manager Insists Only They Can Call to Have Cars TowedHOA Residents Want Their Own HOA Because of Alleged Unfair Treatment: Is That Possible?Why Are the Ages of This HOA Board�s Members Even Being Discussed? [HOAleader.com Video]They Said What?! Younger HOA Board Member Says Over-50 Crowd Doesn�t Get It [HOAleader.com Video]Front-Yard Gardening Restrictions: What Do HOAs Typically Ban?How to Stop Carrying Your Entire Condo/HOA Board�s Weight On a Few ShouldersDisengaged Condo/HOA Board Members: Tips for Hitting Their Start ButtonTech-Savvy Condo/HOA Manager Shares His Best AI Secrets5 Effective Ways This Condo/HOA Manager Is Using AIWhy Your Condo/HOA Needs to Take the Low�But Real�Risk of E-Vehicle Fires SeriouslyBoth EVs and eBikes Post Safety Risks: Is Your Condo Prepared?Why It�s Not Such a Baaaaad Idea for Your Condo/HOA to Hire GoatsAnswering Emails and Texts in No Time Flat! Is That Your Duty as a Condo/HOA Board Member? [HOAleadeHOA Board Member Wants to Set a Double Standard (Perhaps Rightfully So) [HOAleader.com Video]Is Your Condo/HOA Landscaper an Expert on the Safety of the Chemicals They Use?Lessons from a Montana Condo/HOA Management Company�s Legal SettlementAre You Seeking the Right Condo/HOA Experts? And Is This Board Member Too Dismissive?Smart Ways for Condo/HOA Boards to Shut It Down With Owners Who Bring the DramaWhen Your Law Firm Represents Your Condo/HOA And Your Management CompanyBoard Wants to Kick Troubled Owner Off the Ballot and Out of Board MeetingsYour Dilemma: Cooperate with ICE While Fulfilling Your Duty to Protect Owners� PrivacyWhat�s Your Condo�s/HOA�s Role If ICE Seeks Access or Information?HOA Board Member Unilaterally Withholds Vendor�s Payment, and All Hell Has Broken LooseThe Pros and Cons of Community-Wide Garage SalesFannie Mae�s Condo Blacklist Is Growing, and Reports Are That It�s a Bear to Get OffDidn�t See This Coming: Vendor Hires Lawyer After Lone HOA Board Member Withholds PaymentHOA Board Member Considers Inviting Owners on Walkabouts to Hunt for Violations [HOAleader.com VideoHOA "Community Citation Walks": Why One Expert Doesn�t Even Like the Name [HOAleader.com VThat Time We Tried to Figure Out What a Condo/HOA Board Member Was Getting AtHOA Elections: A Guide to Managing the Election Process at Condo and Homeowner AssociationsCan You Change Your Condo or HOA�s Assessment Allocation?Management Company Surprises HOA Board With Charge After Charge After ChargeHOA 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 Email