Condo Master Policy Gap Analyzer

About the Condo Master Policy Gap Analyzer

Your condo association's master policy and your individual HO-6 policy should work together to provide complete protection, but gaps are common. The master policy type — "bare walls," "single entity," or "all-in" — determines how much responsibility falls on you as the unit owner.

With a "bare walls" policy, you're responsible for everything inside your unit: drywall, flooring, cabinets, plumbing fixtures, and appliances. With an "all-in" policy, the master policy covers original interior components, and you only need to cover your personal upgrades and belongings.

This calculator helps you identify gaps based on your master policy type and unit improvements. These are educational estimates only — review your actual master policy documents with your insurance agent.

When This Page Helps

Coverage gaps between the master policy and your HO-6 can leave you exposed to tens of thousands in uninsured losses. This gap analyzer helps you identify what your master policy covers and what your individual policy needs to fill.

How to Use the Inputs

1. Select your master policy type (bare walls, single entity, or all-in).
2. Enter the estimated cost to restore your unit to original builder-grade condition.
3. Enter the value of any upgrades above builder-grade.
4. Enter your personal property value.
5. Review the coverage gap and recommended HO-6 dwelling limit.

Example Calculation

Tips & Best Practices

• Request a copy of the master policy declarations page from your HOA — don't guess the policy type.
• Bare walls policies leave you with the most responsibility and require the highest HO-6 coverage.
• All-in policies cover original interior components but not your personal upgrades or improvements.
• Add loss assessment coverage to protect against special assessments after building-wide losses.
• Your HO-6 deductible should align with the master policy deductible for seamless coverage.
• These are educational estimates; have your insurance agent review your specific master policy for accurate gap analysis.

Master Policy Types Explained

Bare walls covers only the building skeleton. Single entity covers original interior components as built. All-in covers everything including owner improvements. Your HO-6 needs decrease as the master policy coverage increases, but personal property and liability are always your responsibility.

Common Gap Scenarios

The most dangerous gap is when owners assume the master policy covers their interior but it's actually bare walls. A kitchen fire could leave you with $50,000–$100,000 in uninsured interior restoration costs. Even with all-in policies, your upgrades and personal property need HO-6 coverage.

Getting the Right Coverage

Bring your master policy declarations page to your insurance agent and review it together. They can identify exactly what gaps exist and recommend appropriate HO-6 coverage limits. This annual review costs nothing and can prevent catastrophic coverage gaps.

Frequently Asked Questions

• What is a bare walls master policy?

  A bare walls policy covers only the building structure and common areas — essentially the concrete, framing, and exterior. Everything inside your unit (drywall, flooring, cabinets, fixtures, appliances) is your responsibility to insure through your HO-6 policy.

• What is the difference between single entity and all-in?

  Single entity covers the building and original interior fixtures as built by the developer. All-in covers the same plus any unit owner improvements. Both are better than bare walls for unit owners, but all-in provides the most master policy coverage.

• How do I find out my master policy type?

  Ask your HOA or property manager for the master policy declarations page. This document states the policy type, coverage limits, and deductible. If they won't share it, your state may require them to provide it upon written request.

• What is a loss assessment?

  If a loss exceeds the master policy limits or falls below its deductible, the HOA can levy a special assessment on all unit owners. Your HO-6 loss assessment coverage pays your share. Standard limits are $1,000, but $25,000–$50,000 is recommended.

• What if the master policy deductible is high?

  Some master policies have deductibles of $10,000–$50,000+. If a loss originates in your unit, the HOA may charge the master policy deductible to you. Your HO-6 policy's loss assessment coverage can help cover this cost.

• Should my HO-6 overlap with the master policy?

  Some overlap is acceptable and even recommended. Having your HO-6 cover some items also covered by the master policy ensures no gaps if there's a dispute about whose policy should pay. The cost of modest overlap is small.