Master policy

The association master policy and your HO-6 split a condo loss. Bare walls vs walls-in is declaration-and-policy language, not a national guarantee. Florida condos have a statutory split; other states usually do not. You usually need two property policies in a condo or attached HOA, not one. The association buys a master (blanket) policy. You buy an HO-6 unit-owners policy — or whatever your declaration and lender require. The split between those two policies is not a national rule. It lives in your declaration, the master policy form, and, in some states, a statute. Do not assume a neighbor's claim story is your coverage. This page does not promise that any peril is covered. Read the declaration pages, the master policy, and your HO-6. Ask a licensed agent in your state to map the gap before you close. The master policy is the association's property and, typically, general-liability coverage for common elements — roofs, hallways, elevators, boilers, exterior walls, and similar shared building parts, plus the association's own liability. Premiums are a common expense, paid through assessments. What the master policy does not automatically cover is just as important. Typical gaps, which you still have to confirm on the actual form, include: - Your personal property (furniture, clothing, electronics).

This is general information from an AI helper, not legal advice. Confirm it against your documents and your state's law. If a deadline or hearing is coming up, talk to a licensed lawyer.