A: A master insurance policy provides coverage for damage to the property in the community that is shared by the property owners. This could be damage to the amenities and other common areas. The damage can be due to weather, fire, vandalism, criminal activity, flooding, or other natural disasters.
The master policy should also provide coverage in the event that there is an injury within the community in or while utilizing the common areas.
Each HOA’s governing documents should outline what areas within the community need to be covered by the master policy.