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BUDGETBLISS

We Pay When Owners Don’t ™

Budget Bliss is a first-of-its-kind insurance solution that protects Florida community associations from unpaid owner assessments, helping communities under cash flow pressure stay stable while offering associations a smarter, more efficient way to protect their budgets and reduce administrative burden.

Discover for yourself how surprisingly affordable this coverage can be for you and your association.

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About Budget Bliss

Traditional insurance covers damage. Budget Bliss Insurance covers your budget.

A Smarter Approach to Association and Owner Financial Stability

Budget Bliss is Budget Insurance. Coverage designed to address revenue shortfalls caused by delinquent assessments.

Community associations must maintain infrastructure, fund reserves, and provide essential services. Yet their financial ability, stability, and ultimate viability depends entirely on the timely and full payment of each individual owners annual assessment obligation.

Budget Bliss insurance protection is designed to help ensure that an association’s adopted annual budget remains fully funded during the policy period. At the same time, Budget Bliss caps each individual owner’s additional financial responsibility at their share of the annual Budget Bliss policy premium.

Once a Budget Bliss policy is purchased by the association, all owners will no longer pay any additional funds to the association as a consequence of their neighbors failure to pay any portion, or all, of their annual assessment obligation.

When owners don’t pay, other owners shouldn’t have to. Budget Bliss covers the shortfall.

A New Benchmark of Financial Protection and Operational Efficiency for Community Associations

How It Works

A Simple Solution to a
Multi-Decade Over-Complicated Problem.

1. Adopt Your Budget

The board adopts its annual budget as usual, establishing the financial plan that supports community operations, services, and reserves.

2. Secure Budget Bliss Protection

The association obtains a Budget Bliss policy designed to protect expected assessment income during the policy period.

3. Delinquencies Occur

If some owners fail to pay their assessments, the association may experience a gap between budgeted income and actual collections.

4. Budget Bliss Covers the Shortfall

Budget Bliss reimburses the association for covered revenue shortfalls caused by delinquent assessments.

5. Your Community Remains Strong

Essential services continue uninterrupted, projects stay funded, and responsible owners are protected.

Learn More About Budget Bliss

What is Budget Bliss? Who needs it?
Who wants it?

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Next class: Wednesday, March 11th.

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Benefits for Community Associations

Your Community and its Owners: Protected.

Community associations are facing rising financial uncertainty—from new SIRS reserve funding requirements to shifting national and local economic conditions. At the same time, many owners’ paychecks aren’t stretching as far as they used to, increasing the risk that association budgets won’t be fully funded through assessments alone.

All of this puts boards in a difficult position: they’ve adopted a budget in good faith, but can’t always control whether payments arrive on time. Budget Bliss offers a groundbreaking solution—insurance that helps protect an association’s budget, so critical expenses can be paid on time and in full, even when owners don’t.

What Makes a Neighborhood a Community? Budget Bliss.

By reducing the financial pressure that can create tension between boards and residents—who are also neighbors—Budget Bliss helps remove unnecessary conflict and supports a stronger sense of community. When money stress is reduced, relationships improve—and communities thrive.

FAQ

Your Questions, Answered

Get quick answers about how Budget Bliss works, what coverage is designed to protect, and how to take the next step for your association.

What does Budget Bliss’s insurance cover?
Budget insurance is a new kind of protection designed specifically for community associations. Unlike traditional insurance, which protects against property damage or physical loss, Budget Bliss protects the financial health of your community’s budget.
What is a “Covered Unit”?
A Covered Unit is a unit within your community that is subject to delinquent assessments and eligible for foreclosure and rental under Florida Statutes (§§ 718.116, 719.108, 720.3085, or 617) and your association’s governing documents. It does not include units owned by the developer or its affiliates at any time during the policy period or units owned by the association when the policy begins. Units acquired by the association after the policy starts may qualify if they meet all criteria.
How does the claims process work?
To file a claim, submit a sworn Proof of Loss within 60 days of our request, detailing delinquent assessments, interest, late fees, and supporting documents (e.g., account ledgers, tenant leases, Declaration, or Bylaws confirming foreclosure and rental rights). Budget Bliss pays 100% of valid claims (up to 50% of your budget), then assigns recovery rights to our subrogation partner, ASOP, Inc., to collect delinquent amounts and rents from Covered Units. Associations must cooperate by providing documents within 5 business days and approving short-term rentals if required by Bylaws.
Why does Budget Bliss rent units?
Renting foreclosed units is a key recovery method that maximizes returns on delinquent claims, keeping our insurance premiums affordable and loss ratios low for our A.M. Best-rated carriers. This process, authorized under Florida Statutes and your governing documents, stabilizes your association’s budget by ensuring claim payments while funds are recovered through rentals, collections, or lien foreclosures.
Can my association keep rents from delinquent units?
No, when you file a claim, you assign all recovery rights, including rents, to Budget Bliss, as outlined in the policy’s Subrogation and Proof of Loss clause. This allows us to recover claim payments efficiently, keeping coverage costs low. Associations benefit from immediate claim payments (up to 50% of the budget) and pre-claim collection fee coverage ($100/unit/claim), avoiding the hassle of managing rentals themselves.
What if my association’s Bylaws restrict rentals?
Your association must provide Bylaws and Declaration during underwriting to confirm rental authority for Covered Units. If Bylaws require approval for short-term rentals, you agree to cooperate with rental requests as part of the claims process. Failure to comply may result in claim denial or damages, as specified in the policy. We work with your management company to ensure compliance and streamline approvals.
Are developer-owned or association-owned units covered?
No, units owned by the developer or its affiliates at any time during the policy period, or units owned by the association when the policy begins, are not Covered Units. This ensures our coverage focuses on units with clear delinquency risks, keeping premiums affordable and claims processes efficient.
How does Budget Bliss support management companies?
We partner with management companies by covering pre-claim collection fees ($200/unit/claim), simplifying delinquency management, and ensuring budget stability for associations. Our referral program incentivizes management companies to recommend Budget Bliss, driving growth and supporting our $2B Florida market opportunity (48,000+ associations).
What documentation is required for a claim?
To process a claim, submit a sworn Proof of Loss within 60 days, including account ledgers, tenant leases (if applicable), purchase offers or sale notices for units subject to the right of first refusal, and governing documents (e.g., Declaration, Bylaws) verifying the assignment of recovery, rental, and purchase rights for Covered Units. Failure to provide complete documentation may result in claim denial, as outlined in the policy’s Exclusions.
How does Budget Bliss ensure compliance with Florida law?
Our policy complies with Florida Statutes (§§ 718.116, 719.108, 720.3085, 617), leveraging statutory remedies like lien foreclosure and unit rentals. We conduct thorough underwriting to verify rental rights and require claim documentation to ensure legal compliance. Our experienced legal team (30+ years in community association law) mitigates regulatory risks, protecting associations and our carriers.
What happens if my association interferes with recovery efforts?
Interfering with Budget Bliss’ recovery or rental rights (e.g., settling claims with unit owners, restricting unit access) is a material breach of the policy. This may result in damages, reasonable attorney’s fees, or offsets against future claim payments. Cooperation is essential to maintain coverage and ensure your association’s financial stability.
How can my association get started with Budget Bliss?
Contact us at [insert contact info] to request a quote or schedule a consultation. Provide your association’s Declaration, Bylaws, and budget details for underwriting. Our team will tailor coverage to your needs, helping you protect your community’s finances and meet SB 4D reserve mandates.
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