My husband and I purchased a condominium. The Association insures the building. Do we need other insurance?

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Jul 15, 2021

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The homeowners association only insures the part of the building and unit as is outlined in the CC&Rs (Conditions, Covenants & Restrictions). In most cases, this is on a “bare walls” basis, meaning the association is only responsible for the bare walls of the unit. As the unit owners, you and your husband are responsible for the interior, including interior walls, paint, floor covering, kitchen cabinets and appliances and bath fixtures. You should review the CC&Rs, and ask your insurance agent and/or attorney to also review them to be sure you understand what your responsibility is.

Then get a quote to insure your building portion as well as your personal property in the unit.

Another item you should consider is loss assessment protection. This is generally an inexpensive addition to the policy but can save you money in the event of an assessment by the association for an uninsured or underinsured loss. It will not cover you for any assessment related to the general upkeep of the premises, but if there is a loss that exceeds the policy limits, it can save you a lot of money.

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