Insurance for condo associations.

The master policy, directors and officers, crime, and umbrella for condominium associations, written to match what your declaration says the association insures and what it leaves to unit owners.

Start a property quote

Already insured? Get a free Gap Report on the policy you have.

What condo associations usually carry

Master property policy
General liability, $1M / $2M
Directors and officers
Crime and fidelity
Umbrella
Equipment breakdown
Ordinance or law

Watch for these in a condo master policy

What the declaration saysYour governing documents decide whether the master policy covers bare walls, original fixtures, or everything inside the units. The policy has to match them.
The master deductibleA large deductible can be charged to the unit where the loss started, if your documents allow it. Unit owners need loss assessment coverage on their own policies.
Water between unitsWater moving from one unit into the next is one of the most frequent condo claims. Know which leaks the master policy pays and which fall to the unit owner.
Insurance to valueBoards often renew the same building limit for years while rebuild costs climb. An appraisal every few years keeps coinsurance from cutting a claim.
Suits that seek no moneyOwners often sue a board to force or stop an action rather than for damages. Check that your D&O pays defense for those suits too.

What lenders and unit owners ask condo associations for

Master policy certificateUnit owners’ lenders ask for evidence of the master policy at every closing and refinance.
Fidelity limitMany loan programs ask for crime coverage of at least three months of dues plus reserves, covering the management company’s staff too.
Full replacement costLenders often ask for the building at full replacement cost, with coinsurance waived or agreed value.
FloodIn flood zones, lenders require flood coverage on the building, often through the federal program’s association policy.

Questions condo associations ask

Straight answers.

The questions we hear most, answered plainly.

What does the master policy cover inside a unit?

It depends on your declaration. Bare walls covers the structure only. Single entity adds original fixtures like cabinets and flooring. All-in also covers upgrades owners made. Unit owners insure the rest.

Who pays the deductible after a water leak?

Your declaration and local condo law decide. Many associations charge it to the unit where the leak started, up to a set amount.

Do volunteer board members need D&O?

Yes. Board decisions on dues, rules, and repairs draw suits, and D&O pays defense for directors, officers, and often the managing agent acting for the association.