Connie Phillips Insurance Blog

The Master Insurance Policy provided by Condominium Associations affords the   

broadest coverage available for Condominium Associations.  As residents, you should be aware that the Master Insurance Program does not satisfy all of your insurance needs.

You should purchase personal Condo Insurance to fully protect your interest.

Effective June 1, 2009, Maryland condo law provides that individual condominium unit owners will be responsible for up to $5,000.00 of the Condominium’s master policy insurance deductible if the source of the casualty damage originates from your unit.  You are encouraged to check your homeowner’s insurance policy and contact your individual insurer to make certain that you are adequately insured.  Additionally you should be aware that the Condominium’s master policy insurance does not cover your personal contents and belongings, any betterments or improvements you may have made to your home*, and as noted, the master policy insurance deductible of up to $5,000.00 for repairs to damaged areas when the source of the damage originates from any part of your unit.   Most insurers will provide a rider on your policy that will cover that portion of the master policy insurance deductible for which you may be responsible.   All unit owners should have an individual condo homeowner’s policy (HO-6).  Additional coverage should be purchased under the “building” coverage of your HO-6 policy to pay for damages to your unit.   

            You are encouraged to maintain your unit and all mechanical equipment appurtenant to your home in good working order.  In this regard, HVAC condensation lines should be cleared on a regular basis, furnace and clothes dryer filters should be regularly cleaned, outside water lines should be turned off and drained before cold weather occurs, units should be kept warm enough to prevent freezing of pipes, washer hoses should be replaced before they dry rot and burst, hot water heaters should be checked and repaired and care should be taken concerning what is put into the drainage and sewer systems.  Your cooperation in maintaining your home and being a responsible homeowner will assist everyone in keeping the costs of insurance as low as possible and will contribute to the overall well being, health, safety, and financial stability of the Condominium community.