Call Us 708-687-9700 ☰ ˟
708-687-9700
Logo
  • Our Agency
    • AboutImage of right arrow
      • Meet our team of experts
      • Location(s)
    • Certificate of Insurance Request
    • Our Trusted Carriers
    • Community Involvement
  • Quotes
  • Products
    • Home & Auto Insurance
    • Auto InsuranceImage of right arrow
      • Liability Coverage
      • Comprehensive Coverage
      • Collision Coverage
      • Uninsured & Underinsured Motorist Coverage
      • Diminishing Deductible
      • Accident Forgiveness
      • Minor Violation Forgiveness
      • Roadside Assistance
      • Specialty Auto Insurance
      • 24-Hour Customer Service
      • Towing
      • Rental Reimbursement
      • Medical Payments Coverage
    • Home InsuranceImage of right arrow
      • Property Insurance
      • Homeowners Liability
      • Renters Insurance
      • Condo Association Insurance
      • Mobile Home Insurance
      • Scheduled Property Insurance
      • Landlords Insurance
    • Other Personal InsuranceImage of right arrow
      • Identity Theft
      • Personal Umbrella Insurance
      • Data Backup
    • Life InsuranceImage of right arrow
      • Individual Life Insurance
      • Group Life Insurance
      • Long-Term Care Insurance
      • Mortgage Protection Insurance
      • Disability Insurance
      • Second-To-Die Policy
      • Key Person (Key Men) Insurance
    • Health InsuranceImage of right arrow
      • Individual & Family Health Insurance
      • Group Health Insurance
      • Dental Coverage
      • Vision Coverage
      • Long-Term Care Insurance
      • Temporary Health Insurance
      • Supplemental Insurance
      • Disability Insurance
      • Medical Expense Insurance
      • Child Health Insurance
      • Travel Health Insurance
      • Prescription Insurance
      • HSAs
    • Recreational Vehicle InsuranceImage of right arrow
      • Boat Insurance
      • Motorcycle Insurance
      • Motorhome Insurance
      • ATV Insurance
      • Snowmobile Insurance
    • Additional Insurance ServicesImage of right arrow
      • Special Events Insurance
    • Coverage for Specific IndustriesImage of right arrow
      • Accounting Firm Insurance
      • Alarm Contractors Insurance
      • Insurance for Arborists
      • Construction Insurance
      • Consulting Firm Insurance
      • Contractors Insurance
      • Specialty Trade Contractors Insurance
      • Craft Brewery Insurance
      • Educational Facility Insurance
      • Financial Institution Insurance
      • Healthcare Facility Insurance
      • Healthcare Practice Insurance
      • Law Firm Insurance
      • Life Science Insurance
      • Limousine Services Insurance
      • Livestock Insurance
      • Maintenance Contractors Insurance
      • Manufacturing Insurance
      • Maritime Employers Insurance
      • Media & Advertising Insurance
      • Orthotics & Prosthetics Insurance
      • Pool & Spa Insurance
      • Printers & Publishers Insurance
      • Railroad Contractors Insurance
      • Real Estate Businesses Insurance
      • Retail Insurance
      • Restaurant Insurance
      • School Bus Contractors Insurance
      • Scrap Metal Insurance
      • Security Guards Insurance
      • Self-Storage Insurance
      • Septic Contractors Insurance
      • Specialized Truck Equipment Insurance
      • Technology Services Insurance
      • Tow Trucks Insurance
      • Water Well Drillers Insurance
    • Coverage for Your BusinessImage of right arrow
      • Leave Management
      • Loss Control Insurance
      • Marine Insurance
      • Business Owners Policy (BOP)
      • Commercial Auto Insurance
      • Commercial General Liability
      • Commercial Property Insurance
      • Commercial Umbrella Insurance
      • Crime Insurance
      • Inland Marine Insurance
      • Professional Liability
      • Workers Compensation
      • Bonds
      • Fidelity Bonds
      • Surety Bonds
    • Coverage for Your EmployeesImage of right arrow
      • Small Business Retirement Plans
      • Employer-Sponsored Retirement
      • Group Benefits
      • Group Disability Insurance
      • Voluntary Benefits
      • Retiree Health Coverage
      • Group Health Insurance
      • Disability Insurance
      • Individual Life Insurance
  • Contact Us
    • Jordan Insurance Services & Associates
    • Contact Us
Home > Blog > Condo Insurance 101
THURSDAY, JANUARY 19, 2023

Condo Insurance 101

You might think that home and condo insurance are similar, but there are many differences. Most condos don’t have backyards or basements. You own everything within your condo, and ownership of the rest of the complex is usually shared between all condo owners. To make things even more confusing, insurance rules are different between different condominium complexes. Take a few minutes to learn more about condominium master policies so that you can understand how they work, and what kind of insurance you will need to purchase. 

What is a Master Policy? 

The master policy is an insurance policy that the group of condo owners (also known as a condo association) pays for. It covers everything that falls under shared ownership, such as a pool, common areas, exterior structures and more. Depending on what type of master policy your condo association has, it may also cover certain items within your condo as well. There are two basic types of condo master policies: bare walls-in and all-in. You will need to purchase different insurance for your condo based on what kind of master policy your association has. a sign on the side of a building

Bare Walls-In Condo Insurance 

If your condo association has this type of policy, that means that everything outside your walls, including the exterior framework of your condo, should be covered on the master policy. You will need to purchase insurance for everything within the walls of your condo. That includes carpets, appliances, fixtures and your personal belongings. 

All-In Condo Insurance 

All-in master policies work a little bit differently than bare walls-in policies. If your condo association has an all-in policy, then things like flooring materials, bathroom fixtures, kitchen counters, cabinetry and other fixtures inside your condo should be covered by the master policy. You will need to check the condo association’s master policy for specific details, but in general, you may only need to insure your furniture and other possessions. 

Before you talk to your independent agent, make sure you have a copy of your condo association’s master policy. This document should outline everything that is covered by the master policy so that you know what kind of condo insurance you will need to purchase.  
Posted 11:55 AM

Tags: condo, condominium, condo association, insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2023
  • 2022
  • 2021

  • insurance(15)
  • business(12)
  • coverage(11)
  • commercial(8)
  • policy(7)
  • compensation(4)
  • umbrella(4)
  • owners(4)
  • workers(4)
  • bop(4)
  • benefits(3)
  • car(3)
  • auto(3)
  • homeowners(3)
  • personal(2)
  • business insurance(2)
  • auto insurance(2)
  • accident(2)
  • condo association(1)
  • homeowners insurance(1)
  • condo(1)
  • condominium(1)

View Mobile Version
Logo
Quick Links
Home Our Products Blog Report a Claim
About Us Refer A Friend Our Carriers Contact Us
Location
15859 S Ridgeland Avenue
Suite B
Oak Forest, IL 60452

Phone: 708-687-9700
Fax: 708-687-9740
Social Social
© Copyright. All rights reserved.
Powered by Insurance Website Builder