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What are the implications of having the condo association as an added insured on homeowner's condo insurance policy?

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they are an insured under the policy as they 'own' the outside of the home........no 'implicatons' other than in some claims they would/may be included on the draft in payment........it may be (these policys are different in different states)..... one reason is say a shingle falls from the roof and hits your visiting mother in law in the head....the sidewalk has a crack that should've been repaired, and i fall and break my arm..they (the condo asso) are the negligent party, if they were not an 'insured' then there would be no coverage (there may not anyway in this scenerio, as their policy may cover that incident) but you get the point...........
Answer Usually state law requires a condominium association to carry a master policy insuring the real estate assets owned in common, insuring against liability and covering directors and officer's liabilities. These requirements can be modified by the community's governing documents.

As an owner, you need insurance under something called an HO-6 policy, to cover what is not covered by the master policy, located inside your unit.


Request a lesson from your board about what's covered in the master policy, so that you and your agent understand what you need to cover in your HO-6 policy. You want to verify that you are not paying to double-cover the kitchen cabinets, for example, that you are paying to insure your personal possessions, and that you're insured should it be determined that you have a responsibility to 'fix' or 'repair', even though the association may have a responsibility to pay for the 'fix' or 'repair'. An example is any kind of water leak that damages your unit and another or others.




Adding the association onto your policy as an additional insured is something the agent and the board can determine. It may not be a requirement.
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