Condo Association Insurance
Master policy coverage that protects your entire building, common areas, and association — giving unit owners peace of mind and protecting your board from liability.
Get a Quote
What is condo association insurance?
Condo association insurance — also called a master policy — protects the entire condominium property, common areas, and the association itself. It's the foundation of protection that unit owners rely on, and it's typically required by lenders and state law.
As a board member or property manager, you're responsible for protecting a multi-million dollar asset and the people who call it home. The right master policy covers building damage, liability claims, and even protects board members from personal liability for decisions made on behalf of the association.
What does a master policy cover?
A comprehensive condo association policy protects the physical property and shields the association from liability. Here's what's typically included:
Property Coverage
- Building structure and roof
- Common areas and amenities
- Shared systems (HVAC, plumbing, electrical)
- Fixtures in common areas
- Pools, fitness centers, clubhouses
- Parking structures and garages
Water Damage
Water damage from pipe bursts or appliance leaks may not be covered by the association's master policy. Unit owners often need their own HO-6 policy to protect against interior water damage.
Liability & Additional Coverage
- General liability for injuries
- Directors & Officers (D&O) liability
- Fidelity/crime coverage
- Workers' compensation
- Equipment breakdown
- Umbrella/excess liability
Flood Coverage
Standard property policies do not cover flood damage. In Florida, associations need separate commercial flood insurance to protect buildings and common areas from flooding.
Important: Florida law requires associations to maintain certain insurance coverages. We'll help ensure your association meets all statutory requirements while filling any coverage gaps.
What does condo association insurance cover?
Building Property
Covers the building structure, roof, exterior walls, and common area fixtures. Pays to repair or rebuild after covered events like fire, wind, or vandalism.
Common Areas
Protects shared spaces — lobbies, hallways, elevators, pools, fitness centers, and clubhouses. Includes furniture, equipment, and fixtures in these areas.
General Liability
Covers injuries on association property — slip and falls in common areas, accidents at the pool, injuries in parking areas. Pays legal defense and settlements.
Flood Coverage
Standard policies exclude flood damage. Florida associations need separate commercial flood insurance to protect buildings and common areas from rising water and storm surge.
Common questions about condo association insurance
What insurance is required for Florida condo associations?
Florida Statute 718 requires condo associations to maintain property insurance covering the full insurable value of the building and common elements. Liability insurance, fidelity bonding, and flood insurance (in certain zones) may also be required.
What's the difference between "bare walls" and "all-in" coverage?
"Bare walls" covers only the building structure — unit owners insure everything inside. "All-in" covers original fixtures, flooring, and finishes in each unit. Your declarations should specify which type of coverage you have.
Do board members need D&O insurance?
Strongly recommended. Directors & Officers liability protects board members from personal liability for decisions made on behalf of the association. Without it, board members could be personally sued for alleged mismanagement.
How much liability coverage does our association need?
At minimum, enough to protect the association's assets. Most associations carry $1-2 million in general liability, with an umbrella policy for additional protection. We'll help assess your exposure and recommend appropriate limits.
Does the association need separate flood insurance?
Standard property policies exclude flood damage. Associations in flood zones are typically required to carry flood insurance, but it's recommended even outside high-risk areas — Florida sees significant flooding statewide.
What is fidelity coverage?
Fidelity/crime coverage protects against theft or embezzlement by association employees, board members, or management company staff. Florida requires associations to carry fidelity bonding equal to the total amount in association accounts.
Condo association insurance carriers we work with
Get a condo association insurance quote
We work with associations of all sizes to find comprehensive coverage at competitive rates. Tell us about your property and we'll provide options tailored to your association's needs.