SmartProperty® and Coverwatch Partner to Turn Reserve Study Data into Lower Insurance Costs for Community Associations

—Partnership connects SmartProperty’s Living Reserve Study® and Atlas™ data with Coverwatch’s flat-fee insurance brokerage, so well-maintained associations can prove their condition to carriers and pay less for coverage—

SAN DIEGO, CA — Nov. 2, 2026 — SmartProperty®, the company defining Reserve Study Intelligence, and Coverwatch, the AI-native insurance brokerage that works as a fractional risk advisor to community associations, today announced a strategic partnership that links the reserve study to the insurance renewal. Associations that keep a current, traceable reserve record through the Living Reserve Study® can now use that record at renewal, with Coverwatch presenting the data directly to carriers.

For decades, the reserve study and the insurance program have lived in separate binders. One plans 30 years of capital spending. The other prices the risk of the building today. Both depend on the same facts: what the property has, what condition it is in, and whether the association is funding the work ahead. SmartProperty and Coverwatch are connecting the two.

Insurance is now one of the biggest lines in the budget

Insurance sits among the largest expenses in most association budgets, and it is growing faster than almost any other. Since the 2021 collapse of Champlain Towers South, carriers have narrowed what they cover and look harder at deferred maintenance, water losses and underfunded reserves. Many associations respond by holding reserve contributions down to keep dues flat, which raises the very risk carriers are pricing in.

PRISM brings a higher resolution of risk to underwriting

Underwriters already look at reserve studies, often at the inspection photos, to judge a building’s real condition. But a 50-page PDF is hard to read quickly, and when the risk isn’t clear, many carriers fall back on a base rate. SmartProperty Atlas™ draws on more than 20 years of proprietary reserve study data, with every component tied to its category, age, condition and replacement history. SmartProperty’s PRISM gives underwriters a more accurate, in-depth look at each HOA, bringing a higher resolution of risk to every submission.

Coverwatch takes that record into the submission. Instead of a dec page with a reserve study attached, carriers receive a clear account of the component inventory, recent replacements, funding level and maintenance plan. The result is a stronger underwriting narrative, one that was not possible before without access to structured maintenance data. Coverwatch then shops the program across 50+ carriers and negotiates terms on the association’s behalf.

Insurance that benefits well-run communities

Today, a well-run community and a poorly run one are often priced the same way. The partnership changes that. Keeping the reserve study current, funding reserves to plan and completing repairs on schedule all show up in the reserve record, and that record now goes to the underwriter.

SmartProperty introduces communities with strong reserve records to Coverwatch for a complimentary coverage analysis, savings review and risk management strategy ahead of renewal.

A fractional risk advisor for every association

Most associations cannot justify a full-time risk manager, and most brokers appear only at renewal. Coverwatch fills that gap as a fractional risk advisor. AI reads every policy and benchmarks the program against Coverwatch’s proprietary HOA dataset, so boards see where they overpay and where they are exposed. SmartProperty’s reserve data shows what the building actually needs, so the risk management plan reflects the property, not a generic profile, and carries from one renewal to the next. Coverwatch’s platform also keeps renewals, certificates of insurance, claims and loss runs in one place for the management company, at no cost.

Incentives aligned with the association

Most brokers are paid a percentage of the premium, so they earn more when premiums rise. Coverwatch charges a flat fee, quoted per association and set below the commission it replaces. On a like-for-like basis, an association pays less simply by moving to Coverwatch, before any savings from the underwriting work. Its only incentive is to find the right coverage at the right price, and SmartProperty’s reserve data gives it more evidence to work with.

“Insurance is one of the largest lines in an association’s budget, and one of the hardest for a board to control,” said Damian J. Esparza, CEO and Founder of SmartProperty. “A reserve study that keeps up with the property should be worth something at renewal. With Coverwatch, a board that takes care of its building can prove it to the carrier and see the benefit. That is value a board member can understand in one sentence.”

“Carriers are already reading reserve studies to understand the buildings they insure,” said Miquel Llobet, CEO and Co-Founder of Coverwatch. “SmartProperty turns that study into a record underwriters can trust: every component, its age, its condition and how it is funded. As a fractional risk advisor, we use AI to benchmark every program and use that record to tell the building’s real story to more than 50 carriers. Because we charge a flat fee, every dollar we save stays with the community.”

About SmartProperty®

SmartProperty® provides reserve studies, capital reserve planning services, and technology solutions that help HOAs, community associations, and clubs make better long-term capital planning decisions. Through its flagship Living Reserve Study® platform, SmartProperty transforms traditional reserve studies into continuously evolving financial roadmaps that improve transparency, funding confidence, and asset stewardship. Guided by its vision to build the physical ledger for the built world, SmartProperty is building the foundation for smarter stewardship of physical assets. SmartProperty is headquartered in San Diego, CA.

About Coverwatch

Coverwatch is an AI-native commercial insurance brokerage and fractional risk advisor to community associations, working only for its clients. Instead of a commission tied to premium, Coverwatch charges a flat fee, so its incentives stay aligned with the communities it serves. Its platform maps each risk to the right underwriting questions, shops coverage across 50+ carrier partners and monitors risk year-round, with renewals, certificates of insurance, claims and loss runs in one place for HOA management companies. Founded by operators who built and ran a 200-association management company, Coverwatch is backed by CoFound, Restive Ventures and others, and is headquartered in San Francisco, CA. Coverwatch Insurance Services LLC (NPN# 22166415) is the licensed brokerage entity. Learn more at coverwatch.com.

Media Contacts

SmartProperty
Chris d’Eon, CMO
chrisd@smartproperty.com
(877) 864 8955

Coverwatch
Miquel Llobet, CEO
info@coverwatch.com
(415) 738-7727

Savings and coverage disclosures

Individual results vary with property condition, loss history, location, coverage selected and market conditions, and not every association will save. Use of a SmartProperty reserve study does not guarantee lower premiums or more favorable terms; pricing and eligibility are determined by each insurance carrier. All coverage is subject to carrier underwriting and approval and to the terms, conditions, limitations and exclusions of the policy issued, and is not bound until confirmed in writing by the insurer. SmartProperty is not an insurance agent or broker. Insurance services are provided by Coverwatch Insurance Services LLC (NPN# 22166415), a licensed insurance producer; see coverwatch.com/legal/licenses.

Frequently asked questions

Cover photo: Meadowbrook Lakes Condominium, Dania Beach, Florida, by Richard Mc Neil, via Wikimedia Commons, CC BY 3.0.