Condo association insurance that protects your whole community

A master policy covers the building structure, common areas, and shared systems, plus liability for those areas. Most programs add directors and officers liability for the board, fidelity or crime coverage for association funds, and a commercial umbrella. How far the property coverage reaches into individual units depends on whether the policy is bare-walls, single-entity, or all-in.

Bare-walls-in covers the structure up to the unfinished drywall, leaving interior finishes to each owner. Single-entity adds the original builder-installed fixtures and finishes. All-in is the broadest, covering nearly all built-in elements including some owner upgrades. Your governing documents should state which basis the association must carry.

A small condo under 25 units commonly runs $3,500 to $7,500 per year, mid-size communities $8,000 to $18,000, and large 100 to 300 unit communities with amenities $18,000 to $40,000. High-rise and high-value buildings can exceed $100,000. Premium is usually divided per unit and funded through association dues.

In most cases yes. State condominium acts and the association governing documents typically require a master property and liability policy, and conventional lenders require one before financing units. Without it, owners struggle to get mortgages and the board may face personal exposure.

The master policy is purchased by the association to cover the building and common areas. An HO-6 is the individual unit owner policy that covers personal property, interior improvements, and gaps the master policy leaves, including loss assessment. The two must align with the master policy basis to avoid coverage gaps.

Property and liability are the core of the master policy, but directors and officers liability is a separate coverage that protects board members from claims over their decisions. Most associations carry it, and many lenders and governing documents require it. We build it into the program.