How Does Condo Association Insurance Work?

Condo claims are more complicated than a typical residential claim for several reasons. There are two parties involved in every condo claim: the Condo Association, represented by the condo board and property management firm, and the property owners of the damaged units.

Maintained and Repaired

The Condo Association and its representatives are responsible for maintaining common areas such as hallways and stairwells, as well as exterior walls, roofs, and other structural components of the building. The condo board also responsible for making decisions about how these areas maintained and repaired, which often involves hiring contractors to complete repairs or replacements.

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When a condo association’s property damaged or destroyed, the process of filing and managing an Oakland Condo Claims can complicated.

For Property Managers

In the immediate aftermath of an insurance loss, property management firms challenged to maintain. Their normal workload while overseeing additional tasks related to the loss. The condo association’s board of directors, the unit owners, property manager. And support staff, brokers, adjusters, cleaning companies, contractors. And more all have their roles in working through a condominium claim. Keeping everyone abreast of their piece of the claim is time-consuming. It’s easy to miss a connection with a key player. From a communications standpoint alone, this can add several hours to an already packed. Work week—and that’s just one aspect of the claims process!

From Board Members

When it comes down to it, there is no way around it: claims complicated. If you are part of an association board or committee that oversees insurance claims. As part of your duties or have assigned this responsibility. By your board or committee chairperson (or both), then you know how much time. And effort it takes to sort through each step in the Oakland Condo Claims process.

The Association’s Policy or Master Policy

Purchased by the condo association, this insurance policy covers the building. The common areas and sometimes, depending on your state or by-laws. The interior surfaces in each unit. However, the master policy does not cover everything of importance. Such as a condo owner’s personal property, and the cost to live elsewhere while repairs being made. Furthermore, many condo associations have had to reduce insurance premiums by raising the master policy’s deductible and/or reducing coverage. There are also geographic differences that occur state-to-state. For example, most association policies in New England cover the entire building. In Florida, however, most association policies cover only the common areas. And the unit owner has to cover his individual unit.


When you select a condo association insurance policy, know the specifics of your state’s laws governing this issue. Then examine the coverage to find out what your policy covers and at what levels. It is important that the condo association has enough coverage. That would be able to rebuild your building or at least have enough money to carry out. Major repairs to keep your condo secure. You also need to check who is responsible for the exterior of the building. Such as windows, doors, balconies and decks. Be sure to check building codes that pertain to your specific area.

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