In this episode of the Reassurance Podcast, Chelsey Rabalais continues the Back to the Basics series with a deep dive into condo and co-op insurance and the coverage gaps many owners do not realize exist. While most condo owners assume their association’s master policy fully protects them, that assumption often leads to costly surprises after a loss.
Chelsey explains how master policies work and why coverage varies depending on whether a building is written as bare walls, single entity, or all-in. She breaks down where association coverage ends and where an individual HO-6 policy begins, including responsibility for interior finishes, personal property, liability, and improvements.
The episode highlights one of the most overlooked but critical coverages for condo owners, loss assessment insurance, especially as master policy deductibles continue to rise in 2026. Common gaps such as water damage liability, renovations, short-term rentals, and inadequate assessment limits are also addressed.
The key takeaway is that condo insurance is not about guessing who covers what. It is about understanding the overlap, closing the gaps, and protecting yourself in a shared risk environment where one loss can impact an entire building.
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