Business Solutions
Condo Association
Master Policies.
Condominium associations have unique and complex insurance requirements. We specialize in structuring master policies that protect the building, the association, and the board members who govern it.
Who We Serve
Built for Condo Associations & Boards
Condominium associations are responsible for insuring the building structure and common areas on behalf of all unit owners. This responsibility is typically mandated by the association's declaration and bylaws, and often by Massachusetts state law.
The master policy must be carefully structured to align with the association's governing documents — particularly the definition of what constitutes "common elements" versus "unit owner property."
We work directly with property management companies, association boards, and real estate attorneys to ensure the master policy is properly structured and adequately valued.
Small Condo Associations
2–20 unit buildings with self-managed or professionally managed boards
Mid-Size Associations
20–100 unit buildings with established management structures
Large Complexes
100+ unit developments with complex common area infrastructure
Conversion Properties
Former rental buildings converted to condominium ownership
Coverage Components
Master Policy Coverage Elements
Building Coverage (Master Policy)
Covers the entire building structure including common areas, roof, exterior walls, hallways, lobbies, and shared mechanical systems.
General Liability
Protects the association against third-party bodily injury and property damage claims occurring in common areas.
Directors & Officers Liability
Protects board members from personal liability arising from their decisions and actions as association directors.
Fidelity / Crime Coverage
Covers theft of association funds by employees, board members, or management company personnel.
Equipment Breakdown
Covers repair or replacement of boilers, HVAC systems, elevators, and other shared mechanical equipment.
Umbrella Liability
Provides excess liability protection above the primary general liability limits for catastrophic loss scenarios.
Common Questions
Condo Insurance FAQs
What is the difference between a Master Policy and an HO-6?
The Master Policy covers the building structure and common areas — it is purchased by the condo association. An HO-6 is purchased by individual unit owners to cover their interior walls, personal property, and personal liability.
What is "bare walls" vs. "all-in" coverage?
"Bare walls" covers only the building structure to the unfinished interior surfaces. "All-in" (or "all-inclusive") extends coverage to fixtures, flooring, and improvements within individual units. The type of master policy determines what unit owners need in their HO-6.
Are board members personally liable?
Without D&O coverage, board members can face personal liability for decisions made in their capacity as directors. D&O insurance is a critical component of any condo association master policy.
How often should the master policy be reviewed?
We recommend annual reviews, particularly at renewal. Building values, association bylaws, and carrier appetites change frequently. An outdated master policy can leave the association and unit owners significantly exposed.
Protect Your Association
Our condo association specialists will review your governing documents and structure a master policy that meets your legal obligations and protects your board.
Request a Master Policy Review