Boston Massachusetts Condo Association Insurance: A Guide for Condo Association Trustees and Board Members

Protect Your Condominium Association with the Right Master Insurance Policy

As a Condo Trustee or Board Member, one of your most important responsibilities is protecting your condominium association, common property, and the financial interests of all unit owners.

Whether your condominium is located in Boston, Dorchester, South Boston, Cambridge, Somerville, Newton, Quincy, or elsewhere in Massachusetts, having the proper Condo Association Master Insurance Policy is critical.

At Savin Jones Insurance, we specialize in Massachusetts Condo Association Insurance, helping condo trusts and associations save up to 40% while improving insurance coverage.

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Why Condo Association Insurance Matters

A properly structured Condo Association Insurance Policy helps protect:

• Common areas
• Roofs and building exteriors
• Hallways and stairwells
• Parking lots and walkways
• Shared mechanical systems
• Community rooms and amenities
• Association liability exposures

Without proper insurance coverage, a condominium association may face significant out-of-pocket expenses after a covered loss.

Understanding Condo Master Insurance Coverage

Many trustees are unsure exactly what their Condo Master Insurance Policy covers.

The first step is understanding how your condominium documents and bylaws define insurance responsibilities.

Bare Walls Coverage

A Bare Walls policy generally covers:

• Building structure
• Roof
• Exterior walls
• Common areas
• Shared building systems

Items inside individual units such as flooring, cabinets, fixtures, appliances, and improvements are typically the responsibility of the unit owner.

Single Entity Coverage

Single Entity coverage generally provides broader protection than Bare Walls coverage and may include certain original fixtures and finishes installed by the developer.

All-In (Walls-In) Coverage

An All-In Master Policy provides the broadest level of protection.

Typically covered:

• Cabinets
• Flooring
• Fixtures
• Built-in appliances
• Improvements and betterments
• Items physically attached to the building

Many Massachusetts condominium documents require an All-In insurance structure.

Essential Condo Association Insurance Coverages

Property Insurance

Protects the condominium building against covered losses including:

• Fire
• Wind
• Hail
• Vandalism
• Theft
• Water damage (subject to policy terms)

General Liability Insurance

Protects the association against claims involving:

• Slip and falls
• Bodily injury
• Property damage
• Common area accidents

Directors & Officers (D&O) Insurance

D&O Insurance protects:

• Trustees
• Officers
• Board Members

Against lawsuits alleging:

• Mismanagement
• Breach of fiduciary duty
• Discrimination
• Improper board decisions

Crime & Fidelity Bond Coverage

Protects association funds from:

• Theft
• Embezzlement
• Fraud

This coverage is especially important for:

• Trustees
• Treasurers
• Property Managers
• Managing Agents

Many condominium bylaws and Fannie Mae requirements require Fidelity Coverage.

Equipment Breakdown Coverage

Equipment Breakdown Insurance helps cover repair or replacement costs when critical building systems experience a sudden mechanical or electrical breakdown due to a covered peril.

Examples include:

• HVAC Systems
• Boilers
• Electrical Panels
• Pumps
• Water Heaters

Sewer & Drain Backup Coverage

Provides protection against water damage caused by:

• Sewer backups
• Drain backups
• Sump overflow events

Loss of Maintenance Fees

Helps reimburse the association for lost maintenance fee income after a covered loss.

Ordinance or Law Coverage

Provides coverage for:

• Demolition costs
• Undamaged portions of the building
• Increased costs required to rebuild to current building codes

Without this coverage, associations may face substantial out-of-pocket expenses following a major loss.

Excess Liability / Umbrella Coverage

Provides additional liability protection above primary liability limits.

This is particularly important for:

• Larger associations
• Associations with significant assets
• Buildings with higher liability exposures

Why Massachusetts Condo Insurance Premiums Are Increasing

Many condo associations throughout Massachusetts are experiencing premium increases due to:

• Rising construction costs
• Labor shortages
• Higher replacement cost valuations
• Aging building infrastructure
• Water damage claims
• Severe weather losses
• Fewer insurance carriers writing condo associations

Why Condo Associations Choose Savin Jones Insurance

At Savin Jones Insurance, we specialize in:

• Condo Association Master Insurance
• Condominium Trust Insurance
• HOA Insurance
• Apartment Building Insurance
• HO6 Condo Insurance

Benefits of working with us:

✔ Save up to 40% on Condo Association Insurance

✔ Multiple AM Best A-Rated Insurance Carriers

✔ Massachusetts Condo Insurance Specialists

✔ Coverage Reviews Based on Condo Documents & Bylaws

✔ All-In vs. Bare Walls Analysis

✔ Trusted by Condo Trustees and Property Managers

✔ Personalized Local Service Since 1996

Request a Free Condo Association Insurance Review

Before your next renewal, let Savin Jones Insurance review your current policy.

We will compare multiple carriers, review your condominium documents, evaluate your replacement cost valuation, and help ensure your association has the right protection at the most competitive premium available.

Areas We Serve

Boston • Dorchester • South Boston • Cambridge • Somerville • Newton • Quincy • Jamaica Plain • Charlestown • Watertown • Medway • Greater Boston • All of Massachusetts

Our Services

• Condo Association Master Insurance
• Condominium Trust Insurance
• HOA Insurance
• Apartment Building Insurance
• Personal Condo HO6 Insurance
• Auto Insurance
• Umbrella Insurance

Contact Savin Jones Insurance today for a free Condo Association Insurance review and quote.

Save up to 40% on Condo Association Insurance. Click above for a quote.

📞 Call (617) 474-9900 today or request your quote online.