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Master policy renewals that start 90 days early

myNIME runs the renewal for every building you manage. Declarations, endorsements, loss runs and the replacement cost basis sit in one centralized system, your broker receives a complete submission, quotes land side by side, and the board gets a memo it can vote on.

Book a DemoSee the 90-day timelineYour renewal date, mapped in the first call.
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Loss runs requested

Maple Court Condominium

Renewal

Sample
Policy expires Mar 1, 202792days out

  1. Documents gathered

    Declarations and endorsements on file, loss runs requested

    In progress

  2. Submission to broker

    Complete package goes out Dec 31, day 60

    Up next

  3. Quotes compared

    Proposals side by side by Jan 30, differences named

    Up next

  4. Board memo issued

    Two pages, with the recommendation and the cost

    Up next

  5. Binder and invoice filed

    Bound before Mar 1, endorsements confirmed

    Up next
Renewal recordPhase 1 of 3: Gather

A late renewal becomes a coverage problem

Association master policies renew on one date a year, and everything the board needs has to be ready weeks before it.

  • The lapse at midnight

    A policy that expires before the binder is issued leaves the building uninsured, and a loss in that window falls outside every policy in the program.

  • The thin submission

    A broker working without current loss runs, endorsements and an updated replacement cost basis returns fewer markets and weaker terms.

  • The rushed board vote

    A proposal that reaches the board a week before expiration turns into a vote on price alone, with no room to weigh limits or deductibles.

Ninety days is the working window. It leaves time for a complete submission, a second round of markets, a board meeting and the corrections that follow binding.

Three phases, one renewal date

Each phase closes before the next opens, so nothing waits on a document that arrives late.

  1. Day 90 to 60

    Gather

    • Declarations, endorsements and the current binder collected
    • Five-year loss runs requested from the broker
    • Replacement cost appraisal checked for currency
    • Claims, deductibles and open litigation listed
    • Board priorities recorded for the year ahead

  2. Day 60 to 30

    Market and compare

    • Complete submission sent to the broker
    • Proposals collected from every market quoted
    • Limits, deductibles and exclusions compared side by side
    • Differences from expiring terms named in plain language
    • Questions routed to the broker with a due date

  3. Day 30 to 0

    Decide and bind

    • Board memo issued with the recommendation and the cost
    • Vote recorded with the resolution on file
    • Binder confirmed before the expiration date
    • Endorsements and invoice checked against the quote
    • New terms published to managers and the board

Everything a complete submission needs

A broker can only place what the file supports. myNIME keeps each item current, so the submission goes out whole.

Renewal checklist

Maple Court Condominium

Sample

  • 01Declarations pages

    The expiring limits, forms and endorsements that every proposal is measured against.

    Kept current

  • 02Endorsements

    The wording behind additional insured, waiver of subrogation and deductible provisions.

    Kept current

  • 03Loss runs

    Five years of claims history, the first thing an underwriter prices and the first thing a thin file is missing.

    Requested

  • 04Replacement cost basis

    The appraisal behind the insured value, with its date tracked so a stale valuation surfaces before underwriting does.

    Tracked

  • 05Claims and deductible history

    Open and closed claims, amounts paid and the deductible structure the board has approved.

    Kept current

  • 06Governing documents

    Bylaws and declarations that set what the association must insure and where unit-owner responsibility begins.

    On file

  • 07Maintenance and capital plan

    Roof, envelope and systems work planned or completed, which underwriters weigh against the age of the building.

    Provided by your team

  • 08Prior proposals

    Last year's quotes, so year-on-year movement in premium, limits and deductible is visible at a glance.

    On file

Quotes side by side, differences named

Three proposals rarely differ on price alone. myNIME lays the terms out on one screen and names what changed, so the board weighs coverage rather than premium.

  • Every term in the same row.

    Limits, deductibles, coinsurance, exclusions and endorsements aligned across carriers.

  • Movement against expiring terms.

    What improved, what slipped and what the premium change buys.

  • Gaps highlighted before binding.

    A lower premium with a thinner deductible structure reads as exactly that.

Quote comparison

Maple Court Condominium

Sample
Sample quote comparison: expiring terms, Quote A and Quote B
TermExpiringQuote AQuote B
Annual premium$186,400$171,900$178,300
Building limit$42.0M$42.0M$40.5M
All-risk deductible$25,000$25,000$50,000 (flagged)
Wind deductible2%2%2%
Ordinance or lawIncludedIncludedLimited (flagged)
Equipment breakdown$5M$5M$5M
D&O and fidelitySeparateBundled creditSeparate

Sample figures, shown to illustrate the comparison view.
Your renewal record uses your own quotes and the terms in the expiring policy.

A memo the board can vote on

Boards approve insurance, so the decision arrives as two pages: what is recommended, what it costs, what changed, and which document supports each line. The resolution, the vote and the binder stay attached to the renewal record.

Budget season gets the same treatment. myNIME carries the projected renewal cost into the operating budget, so the assessment conversation starts with a number instead of a surprise.

See a sample board memo

Board memo

Maple Court Condominium

Sample
Renewal date
Mar 1, 2027
Recommendation
Quote A
Premium change
−7.8% ($14,500)
Coverage change
Ordinance or law retained
Deductible change
None
Open item
Roof schedule due

Renewal readiness74%

Master policy renewals, answered

What is an association master policy?
A master policy is the property and liability insurance the condominium, co-op or HOA carries for the building itself: the structure, common areas, and the association's liability as an entity. Unit owners insure their own interiors and contents separately, usually with an HO-6 policy or a co-op shareholder policy.
When should a renewal start?
Ninety days before expiration is the working window. It gives the broker time to collect loss runs, approach multiple markets, return proposals, and leave room for a board meeting and any corrections after binding. Starting at 30 days usually narrows the market to whoever will quote quickly.
What documents does a broker need for a renewal?
Current declarations and endorsements, five years of loss runs, claims and deductible history, the replacement cost appraisal behind the insured value, governing documents, the maintenance and capital plan, and last year's proposals for comparison. myNIME assembles all of it into one submission file per building.
What are loss runs, and why do they matter?
Loss runs are the claims history a carrier reports for a policy period: what was claimed, what was paid, what is still open. Underwriters price the renewal from them, and a file that arrives without current loss runs either delays the quote or returns a worse one.
How often should the replacement cost be appraised?
Association practice is to confirm replacement cost with a professional appraisal on a regular cycle, and several states now require it at least every three years. myNIME tracks the appraisal date against the renewal date so a stale valuation surfaces before underwriting rather than after a loss.
Does myNIME replace our broker or agent?
No. Your broker continues to place the policy, advise the board and negotiate terms. myNIME assembles the submission, compares the proposals that come back, and keeps the record current between renewals, so your broker works from a complete file.
Can the board compare quotes without reading a full policy?
Yes. Each proposal is laid out on the same set of terms, with the movement from the expiring policy named beside it. The board sees what the premium change buys, which limits moved and which deductible changed, with the underlying document one click away.
What happens if renewal runs late?
myNIME escalates inside your alert window: the broker, the manager and the board contact all see the days remaining, and the open items are listed in order of what blocks binding. If a binder is still pending near expiration, the record shows the exposure in writing.
Does this work for co-ops as well as condos?
Yes. Co-op corporations carry a master policy on the building, and shareholders carry their own coverage for interiors, much as condo owners carry HO-6. myNIME handles both structures, with the same renewal timeline and the same document set.
How does the renewal connect to budgeting?
The projected renewal cost carries into the association's operating budget, so the board sees the insurance line before the assessment decision. When quotes land, the projection is replaced with the actual figure and the difference is shown against the budget.

Bring your documents.
Watch all four workflows run.

A 30-minute walkthrough on your own portfolio: one vendor certificate read, one unit policy filed, one renewal timeline mapped, and one claim traced from report to reserve.

Book a DemoNo setup work before the call.
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