Condominium Master Policy

While condominium owners are individually responsible for the units where they live, they are also part of a larger association that handles the building as a whole.  A condominium master policy from O’Connor & Co. Insurance Agency, Inc. can help protect both your condo association and individual owners from risk.

A condominium master policy covers the common property and liabilities for your building or complex and generally includes two basic features:

  • Property Coverage – This pays for repairs and damage costs for all common areas in your condominium, including hallways, courtyards, parking areas, stairways, roofs, walkways and other shared spaces.  Keep in mind that condo association bylaws can vary in what is considered common property, so some may include utilities like electrical and plumbing systems while others may only manage the walls and roof.
  • General Liability – As with any liability policy, this provides payment for injuries or property damage sustained by third parties while on your premises.

Because condominium properties can vary widely in size, number of units, and layout, no master policy fits all circumstances.  Our agents can help your condo association determine what additional policies are best for your situation, such as Directors & Officers coverage, which can help protect individual members against lawsuits while acting on behalf of the association.

Whether your association oversees hundreds of units in Massachusetts or just a single duplex in Connecticut, we can help you craft an affordable policy for your situation.  Contact O’Connor & Co. Insurance Agency, Inc. today to find out more information.