Condo association insurance can cover personal injury and property damage while a personal condo owners insurance is not fully covered from loss and liability under an association’s policy.

Condo association insurance coverage is usually limited to building exteriors and common areas such as parking lots while a personal condo owners insurance must insure against injuries and property damages done in his or her unit.

A condo association insurance policy usually includes coverage for accidents and injuries that happen within the complex’s common grounds. While property damage to a building’s exterior is normally under the association’s property damage coverage. Associations also have coverage for commonly owned personal and affixed property such as a tool shed. On the other hand, individual unit owners must be insured against damages and accidents that might happen in their units. If wall paper in their living room rips off, the individual policy will cover the repair.

Some state and federal regulations require condo associations insurance. Each condo has a set of articles bylaws. These have definitions for their specific liabilities or obligations to carry insurance. They give them requirements for their policy deductibles and limitations in liability.

Written by: John Brown
John has more than 25 years of experience in the insurance industry. He grew from a star insurance producer to owning one of the largest agencies in the country; he's a reference regarding contractor's insurance, commercial insurance, and builders' risk insurance.