Condo Master Insurance in Massachusetts

What Is Condo Master Insurance:

Condominium associations require their own property, liability and other important insurance coverage. Individual unit owners have a collective responsibility for securing this insurance. A condominium association typically collects monthly dues from unit owners and uses a portion of these funds to insure the building, common areas and the condominium association’s liability exposures.

Condo association insurance is a specialized form of insurance that’s designed for condominium associations. Policies help condominium insure complexes’ common areas, such as:

(Exactly what common areas a specific policy covers is determined by the policy’s terms and conditions. The common areas covered can vary from one policy to the next.)

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