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Condo Masters Insurance in Worcester, Massachusetts

Although individual condominium units are owned by residents, the building and common areas are usually the responsibility of a condo association or management company. With that in mind, they need adequate insurance coverage.

A condo master insurance policy is a type of insurance policy that is designed to cover the physical structure of your condominium, as well as any common areas within it. You might also see this type of policy referred to as Condominium Association Insurance or an HOA Master Policy.

We have the best carriers for this type of policy as we’ve been able to save our customers nearly 20% on this type of policy!

What Is Condo Masters Insurance?

Condo masters insurance provides critical coverage beyond unit owners’ private residences. For those in charge of a condo complex, risks and hazards may abound. Fortunately, the right condo masters insurance portfolio provides a broad safety net. Specifically, this coverage typically includes the following:

  • General liability insurance—If a tenant or visitor is injured on the shared property and you are held liable for the incident, this coverage can help pay for resulting expenses.
  • Building insurance—This coverage protects shared buildings and exterior elements of structures, such as hallways, elevators and roofs.
  • Possessions insurance—If a covered event causes damage to property owned by your association, such as equipment, furniture and electronics, this type of coverage may be able to help you recoup losses.
  • Errors & omissions liability insurance—In the event your condo association makes a mistake while conducting its professional services, this coverage may help pay with resulting legal fees or settlements.
  • Directors and officers liability insurance—If a senior member of your condo association becomes the target of a lawsuit, this coverage can offer protection.
  • Workers’ compensation insurance—This coverage may provide funds for medical expenses, lost wages and restitution if an employee is injured or develops an illness on the job.

Get the Right Coverage

Condo associations or management companies must account for many different risks and hazards. The specific features and offerings of your property play a major role in shaping your insurance needs. Fortunately, our agents are well-equipped to help you get adequate coverage. Contact Rawson & Sons Insurance Group LLC today to get a quote.

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