Question:

What is typically covered under the HOA’s Master Policy?

Answer:

The master policy is designed to protect the Association’s shared interests. It generally covers:

Common Areas: Structures like clubhouses, pools, fences, and lobby areas.
Structural Elements: The “bones” of the residential buildings, including roofs, siding, and foundation.
General Liability: Protection against lawsuits if someone is injured in a common area.
Directors & Officers (D&O): Liability protection for the Board of Directors for the decisions they make on behalf of the Association.
Fidelity/Crime: Protects the Association’s funds from theft or embezzlement.

Depending on your Bylaws, the master policy may also cover the original interior finishes of your unit. We recommend checking your specific Governing Documents to see if your policy is “Bare Walls” or “All-In.”