Condo Association Insurance

Master Insurance Policies for Condo Associations in New Jersey

Condo Owners are Only Responsible for Insuring their Individual Units. Condo associations are responsible for insuring common areas that are enjoyed by all residents. Without comprehensive insurance, everyone from condo owners to co-op shareholders and building residents are at financial risk.

It is important to remember that association insurance is a broader and more complete form of coverage than the average residential policy because it is designed to shield multiple parties from loss. In general, it goes beyond offering protection for loss from fire by also providing coverage against loss from lightning, hail, wind, sprinkler leakage, building collapse and vandalism.

Our policies have an added advantage of being able to be purchased as part of a commercial package policy, which includes coverage for workers’ compensation. In some cases, we can also offer directors and officers liability in a single policy.

What Condo Association Insurance Covers

Ultimately condominium associations and boards can increase the value of their property by selecting the right association coverage. But since every condominium and policy is different in terms of needs and coverage details, it is important to understand exactly what your policy protects.

Association insurance can cover:

  • All physical structures—indoor and outside—that are not a part of individual condominium units, such as garages, carports, clubhouses, pools, gazebos, tennis courts, porches, decks, patios, and balconies.
  • The foundation of the building, as well as all general pipes, wires, conduits, utilities, heating and cooling systems, and security systems.
  • Property owned by the co-op shareholders, including indoor/outdoor furniture, artwork, rugs, blinds, signs, and landscaping.
  • Common elements such as bare walls, hallways and other common areas outside of individual condo units.

What are the Condo Association Responsibilities?


Muller Insurance can get you the right coverage at a great price.

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