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Master Condo Insurance

Condominium insurance is a unique type of insurance that integrates the interests of a condominium association with the interests of the individual unit owners. The structure of these policies is important and is dictated by the language found in the Master Deed.

There are different kinds of Master Deeds, such as the "All In" and "Bare Walls" deeds. Their differences are as follows:

All In:

  • Includes everything right to the interior coat of paint on the inside.
  • Typically includes additions or alterations such as added cabinets, alarm systems, etc.
  • A simple visualization: Turn the building upside down and shake it.  Everything that falls out is the responsibility of the individual owner and everything that stays attached is the responsibility of the condo association.

Bare Walls:

  • Focuses on the bare walls/structure of the building.
  • Individual owner is responsible for the drywall, wallpaper, paint, flooring, etc.
  • Condo association is responsible for only the shell structure plus heating systems, common plumbing and common electric.

It is important to be very clear about what is the responsibility of the condo owner and what is the responsibility of the condo association in your Deed.  As a condo association, make sure to communicate effectively with your condo owners.

Are you an individual condo owner? Click here.


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