Condo Master Policy: What You Need To Know
If you’ve ever asked yourself, ”What is a condo master policy?”, you’re not alone. This type of coverage is often misunderstood by both condo owners and board members. It plays a big part in protecting shared property features but does not cover everything.
Knowing what this insurance includes and what it doesn’t is imperative when managing risks and avoiding unexpected expenses.
The Basics Behind a Master Policy
A condo master policy is a form of property insurance purchased by the condo association. It generally covers the exterior structure of the building and any shared spaces such as lobbies, hallways, stairwells, and roofs.
These policies are funded by owner dues or assessments, and they can differ based on the specific rules of the association and the insurance provider. However, many people confuse this policy with their own personal condo insurance, which is a separate necessity.
Understanding what is master insurance on a condo is the first step toward smarter financial protection.
What’s Typically Covered and What’s Not?
Most condo master policies protect against damages caused by storms, fire, vandalism, and other covered events. That means the structural shell of your building and all common areas are typically insured. But once you step inside your unit, coverage becomes limited.
For example, appliances, flooring, interior walls, or upgrades may not be part of the master policy. That’s why personal condo insurance matters. It picks up where the master policy ends.
This also means if there’s ever a claim, your insurance and the association’s carrier must work together to determine who pays for what. If this process isn’t understood clearly, disputes may follow. That’s where professional insurance claim support can be invaluable.
Why Clarity Matters for Condo Owners and Boards
Ambiguity around insurance can cause delays in repairs and lead to extra costs for owners. It’s important to know if your association carries “walls-in” or “bare walls” coverage. These terms define how much of the condo unit’s interior falls under the master policy.
Unit owners should always request a copy of the association’s policy and review it alongside their personal insurer. When everyone understands their responsibilities, there’s less finger-pointing and fewer delays during claims.
How We Help Communities Identify Their Risks
At Stone Building Solutions, we work with condo boards and residents to break down complex insurance structures. Whether your community is small or large, we walk properties, assess conditions, and offer guidance that supports long-term protection.
Our reserve studies help associations plan for future expenses, including large insurance deductibles and policy updates.
We also assist when claims happen. Our team speaks directly with adjusters and contractors to make sure necessary details don’t get lost. Knowing how policies overlap or where they fall short can make a real difference after damage has occurred.
Knowing the Ins and Outs of Your Master Policy Starts Here
As consultants and building experts, we believe every condo community should have a full picture of their insurance landscape. That includes knowing what is a condo master policy, what’s excluded, and how to respond when damage occurs.
At Stone Building Solutions, we act as your advocate in these moments. Our detailed inspections, documentation, and support put you in a better position to move forward.
If you’re unsure about the coverage your association carries or need support during a claim, we’re ready to help you find the answers you need. Contact us today.