Maryland Condominium Act and your Homeowners Condo Policy

Please note effective October 1, 2020 the condominium unit owner’s deductible responsibility will change per the Maryland Condominium Act.  The new law increases the unit owner’s deductible responsibility from $5,000 to $10,000, if a loss originates in your unit.

If the loss originates within your unit, payment of the Association’s deductible up to $10,000 will be made under Coverage A (Dwelling) and the HO-6 (Condo) deductible will be taken.

Check your current Dwelling limit.  This limit should include the $10,000 deductible reimbursement and any building improvements that you have in your unit that was not original, i.e. wallpaper, crown molding, fixtures, additions, etc.

Please contact us to have your policy reviewed for your Loss Assessment Deductible amended to the new $10,000 limit.

Note that the Legislature clarified that the deductible for losses that originate from outside the units and common elements is a common expense. If the loss originates from outside the unit or the common elements, the Master Policy Deducible is a common expense.