Condo Association Insurance Coverage Checklist
The coverages a condo association business may carry — core, prevalent, and situational — why each matters, and the gap most often missed.
Pull out your current policy and check the box next to any coverage you can confirm is already in place — anything unchecked is worth a quick conversation with your advisor. Coverage checklist for condominium and cooperative associations. Priorities reflect typical exposure; confirm against the declaration and building age.
Tick each coverage you can confirm you carry — anything left unticked is a good question for your next policy review.
| Have it? | Coverage | Why this business needs it | Priority |
|---|---|---|---|
| Commercial Property (per the Declaration) | Covers buildings to the standard the declaration requires — bare walls, original specs, or all-in. | Core | |
| Directors & Officers | Covers owner claims over maintenance, reserves, and assessment decisions. | Core | |
| Commercial General Liability | Covers injuries in common areas. | Core | |
| Fidelity / Crime | Covers theft of association funds, including by the manager. | Core | |
| Ordinance or Law | Pays added costs to rebuild to current code — critical for older buildings. | Prevalent | |
| Umbrella / Excess Liability | Adds limits for a catastrophic structural or fire event. | Prevalent |
The coverage gap most often missed
The most commonly missed exposure for this class is deferred structural repair. The 2021 Surfside collapse killed 98 people in a building that needed major repairs, and claims settled for $997 million. Florida now requires milestone inspections and structural reserve studies, and boards that delay engineer-recommended work face both property and D&O claims. Associations should keep inspections current, fund reserves to the study, and confirm D&O covers maintenance and assessment decisions.
Send us the checklist and we'll review your condo association coverage line by line, then market it across multiple carriers that compete for your account.
Related: Condo Association Insurance · Condo Association Supplemental (apply) · All coverage checklists
Frequently asked questions
What insurance does a condo association business need?
The core coverages for a condo association business are Commercial Property (per the Declaration), Directors & Officers, Commercial General Liability, Fidelity / Crime. This checklist also lists the prevalent and situational coverages worth considering, with a plain-English note on why each matters.
Is this checklist insurance advice?
No. It is a free educational tool to help you have a more informed conversation with a licensed professional. It affords no coverage and is not insurance, legal, or financial advice — only your actual policy language governs what is and isn't covered.
Can Cory Washington & Co. review my condo association coverage?
Yes. Share your checklist and we'll review your program line by line, market your account across multiple carriers, and explain the trade-offs in plain English. Cory Washington & Co. LLC is licensed in all 50 states.
This checklist is a free educational tool from Cory Washington & Co. to help you review your own coverage and have a more informed conversation with a licensed insurance professional. It is general information only — not insurance, legal, or financial advice, and not a recommendation to buy, change, or cancel any policy. Coverage terms, availability, limits, and requirements vary by policy, carrier, and state, and only the language in your actual policy governs what is and isn’t covered. Checking or leaving blank any item above does not indicate that you are adequately insured or under-insured. Using this checklist does not create a client, agency, or fiduciary relationship. Always consult a licensed professional about your specific situation.