What types of property insurance are available?
Community association property insurance is written under at least three concepts: bare walls, single entity, and all in. It is up to the board of directors of a community association, with the assistance of a qualified insurance advisor, to purchase insurance that conforms and complies with all recorded association documents and statutory insurance requirements. The most limited form of master policy insurance is called bare walls coverage. This means that general and limited common areas are covered-up to the bare perimeter walls, floors, and ceilings of individual units. What is not covered are all items within the interior of these walls, which include fixtures, appliances, interior partitions, wall coverings, floor coverings, cabinetry, and in multi-story units, even the floors, stairs, and ceilings between the lowest floor and highest ceiling. The most common type of master property insurance purchased by community associations is single entity coverage, which like bare walls cov
