California - HOA or Condo Association Employee Theft POSITION SCHEDULE ($250,000) — required surety bond in California. Apply online in minutes.
A California HOA or Condo Association Employee Theft Position Schedule Bond is a type of fidelity bond that protects a homeowners association from financial losses caused by fraudulent or dishonest acts. It guarantees compensation to the association if individuals holding the listed positions misappropriate or steal funds. By scheduling positions rather than names, coverage automatically extends to whoever currently holds that specific role.
Homeowners associations, condominium boards, and property management companies operating in California typically need this coverage. It is specifically designed for associations that need to insure high-risk roles, such as treasurers or board members, who have direct access to community funds.
Obligees generally require this bond to safeguard the association's reserve funds and operating accounts from internal theft, embezzlement, or fraud. It provides a vital financial safety net to protect community members' dues and investments. Exact coverage requirements vary, so associations must verify their specific needs with their governing documents or issuing agency.
To get started, simply click Apply Now to complete our secure, approximately 5-minute online application. Once processed, your bond will be delivered directly to you by email. If you need assistance, contact Noah Insurance Agency at 814-718-0060.
A position schedule bond covers anyone holding a specific job title (like 'Treasurer' or 'President'), whereas a name schedule bond only covers the specific individual named on the policy.
Premiums vary based on the specifics of your association and the application. To get exact figures for your community, please complete our online application or contact Noah Insurance Agency.
Requirements vary widely by association size and bylaws. You must verify exact figures with your association's governing documents, legal counsel, or the requiring agency.
No, this bond specifically covers losses due to intentional dishonest acts, theft, or fraud committed by individuals in the scheduled positions, not accidental mismanagement.
Send us a note or call 814-718-0060 — a licensed agent will confirm the bond amount and requirements for you.
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