Insurance Built for Associations™. We place the condominium's master policy, set the owners' HO-6 against it, and write down why, so the board can explain the decision later.
The master policy
A condo master policy is the association's own insurance, paid for from member dues. Its coverage can address shared buildings and common areas, the association's legal liability, and theft of its funds. The board purchases the program for the association and reviews its limits, deductibles and exclusions.
Where it stops needs a closer look. The governing documents and applicable law establish responsibilities; the issued policy, forms and endorsements define the coverage purchased. An owner's HO-6 may cover portions of a unit outside the master policy, subject to its own terms. When the two are out of step, a gap can remain.
We place the master policy, coordinate the HO-6 against it, and write down why we chose what we chose, so the board can explain the decision a year later.
Coverage
Bound is not the same as covered. Property, liability, umbrella, D&O, crime and ordinance-or-law should be reviewed as one program, even when written on separate policies. We compare their limits, deductibles and exclusions for gaps.
Covers shared buildings and common elements after a covered loss, typically on a replacement-cost basis, subject to the policy's valuation terms and limits. Equipment breakdown for shared boilers, elevators and HVAC can be written alongside it.
Can cover the association's liability and defense costs for covered injury or property-damage claims arising from common property and operations.
Adds limits above specified primary liability policies. The underlying coverage, exclusions and excess-policy terms determine when it responds.
Can cover board members and the association against covered governance claims, including defense costs, subject to the form's terms and exclusions.
Can cover theft of association funds by employees or volunteers; third-party theft may require additional coverage. Applicable lender guidelines may set limits based on the funds held.
Can cover certain extra costs of rebuilding to current code after a covered loss. Coverage is written in parts with separate limits, which matters especially in older buildings.
Reviewed against state law and the association's staffing and contractor arrangements. Employee and uninsured-contractor exposures need to be considered before placement.
Coverage summaries are subject to the issued policy forms, endorsements, limits and exclusions. Earthquake and flood are reviewed alongside the program where needed; availability depends on the condominium and market.
What we find
Six conditions we check on a first review. Each one can be considered now rather than after a claim.
Bare walls, single entity and all-in describe different unit boundaries. We compare the governing documents and applicable law with the issued policy and endorsements; the label alone does not establish coverage.
Some loan programs limit the deductible structure a condominium can carry. We review the current policy against the requirements applicable to the project and loan program, including any per-unit deductible.
An association may be able to assess certain deductibles or shortfalls to owners, depending on applicable law, the governing documents and the loss. HO-6 loss-assessment coverage is not automatic and remains subject to covered causes, exclusions and limits.
If the master policy excludes an owner's upgrades and the HO-6 does not cover them adequately, a gap can remain. We compare the actual policy forms and unit improvements rather than assume either policy responds.
A replacement-cost policy still has valuation conditions and limits. We review current rebuilding estimates against the issued coverage to identify potential shortfalls.
Reserve funding and project-review requirements vary by lender, loan program and project. We flag questions for the board and lender alongside the insurance review; insurance alone does not establish loan eligibility.
We name which of the six apply to your condominium, and put the findings in writing. Don't renew — review.
Request Insurance ReviewWho pays
Three common structures with different unit boundaries. These are typical descriptions, not coverage guarantees: applicable law, governing documents, and the issued policy's forms, endorsements, limits and exclusions control.
| Master policy type | Typical master-policy scope | Common unit-owner gap | Owner carries |
|---|---|---|---|
| Bare walls | Structure and common elements | Typically excludes unit interiors; the policy and governing documents control | Most |
| Single entity | Structure, common elements, and usually original fixtures and finishes | Typically excludes improvements added by an owner | Some |
| All-in | Structure, common elements, original finishes and usually owner improvements | Typically excludes belongings and personal liability | Least |
Warrantability describes whether a project meets the requirements of a particular loan program. Depending on the lender, project and review type, those requirements may address replacement-cost coverage, deductibles, fidelity or crime coverage, and reserve funding. Insurance is only part of the review, and requirements can change. We flag insurance questions for the lender; the lender determines loan eligibility.
A deductible is the portion of a covered loss not paid by the insurer under the policy. Whether the association may allocate it or another shortfall to owners depends on applicable law, governing documents, policy provisions and the loss. An assessment is not automatic, and HO-6 loss-assessment coverage may respond only subject to its own terms, exclusions and limits. The premium is what you budget. The deductible is what you risk.
We compare the governing documents with the issued policy on every review, identify the unit boundary, and record any mismatch for the board.
Request Insurance ReviewWho we serve
Four groups, each needing something different from the same placement. Licensed in all 50 states and the District of Columbia. Coverage availability depends on the association, state and carrier.
Questions
We compare the governing documents and applicable law with the issued master policy, forms and endorsements. These labels describe typical arrangements, but do not replace the actual terms, limits and exclusions. A certificate is not a substitute for that review. We identify the unit boundary and any mismatch in writing so the board and owners can review the master policy and HO-6 together.
A deductible may apply per occurrence or per unit. Whether any amount can be allocated to an owner depends on applicable law, the governing documents, the policy's allocation provisions and the facts of the loss. A loss below the master deductible does not automatically become an owner assessment. HO-6 loss-assessment coverage may respond only if the cause and assessment are covered, subject to its own terms, exclusions and limits, including any special limit for a master-policy deductible. We review the actual policies before drawing a conclusion.
Yes. Insurance can affect whether a condominium meets a particular lender's or loan program's project requirements. Depending on the project and review type, those requirements may address replacement-cost coverage, deductibles, fidelity or crime coverage, and reserve funding. They are not identical across all mortgages, and insurance is only part of project eligibility. We check the insurance against the requirements identified for the review and flag questions for the lender, which determines loan eligibility.
Claims go to insurance@ProtectMyHOA.com, the mailbox for general enquiries, service and claims. Notifying us does not replace any notice your policy requires you to give the carrier. If a deadline is close, call rather than email.
