Homeowner associations in a "shared umbrella" program (also known as group or pooled insurance) share a single insurance policy. The insurance policy is not put in each association's name. Instead, they are additional insureds. There are two types of shared umbrella programs:

1. Shared-Limit Umbrella. In a shared limit umbrella, the insurance policy's limits are shared by everyone in the program. If one association makes a claim that exhausts the limits of the policy, all other associations in the program are left with no coverage.

2. Shared-Policy Umbrella. In this program, all associations program share one policy, but the limits of that policy apply on a "per location" basis. Even so, language in the policy often limits the number of payouts per policy year. That could leave participants without coverage.

Because participants in group programs are "Additional Insureds" instead of being the "First Named Insured," they receive a certificate of insurance rather than an actual complete insurance policy.