Condo Association Insurance CoverageCondo building(s), which are typically multi unit residential operations, are unique in size, occupancy, and location and thus each condo building requires a unique insurance policy referred to as the Master Condo Association Insurance Policy. Condo associations are established in the condo community in order to oversee the management of the condo building and ensure that the operations run smoothly for protection of the residents. This is how and why every condo building is required to have a master condo association insurance policy with important coverages for condo associations.

Below Are Some Afforded Coverage Options That Are Available Under Your N.C. Business Condo Association Policy, But Not Limited to:

General Liability- A master condo association policy provides this protection for the policyholder against claims presented for property damage and bodily injury while on the property.

Building Coverage- The master condo association insurance policy provides this protection for damages to the building and anything attached to the building. Examples of this include roofs, sidewalks, elevators, basements, floors, walls, and even landscaping.

Back Up of Sewer and Drain- This type of coverage “option” provides coverage to damages done as a result of sewer or drain back up at your location. *limits may apply 

Loss of Income and Extra Expense- This is an optional coverage that will pay for the necessary EXTRA expenses that are incurred due to a direct physical covered loss as well as lost income due to suspension of business operations as a result.  Note there may be a time limit associated with this coverage (during the restoration time).

Directors and Officers Liability- This available coverage “option” protects members of the condo association (directors and officers) for alleged claims of wrongful acts/doings.

Inflation Coverage- An optional coverage that will take into account an increase in the amount of business condo insurance based on inflation.

Employee Dishonesty- If there is a direct loss to commercial property or loss of money due to employee dishonesty, this optional insurance would provide protection.

And More!

We Are Here to Help You With All of Your Insurance Needs

Individual condominium owners should familiarize themselves with the types of coverage afforded under the N.C. condo association insurance policy so when they purchase their own individual policy to cover the contents inside their condo, they can make the right decision. Contact us TODAY at 866-869-3335 or visit our website at for all of your condo insurance needs.