If you just bought a condo, we’re sure you’ve already dealt with way more documentation than you wanted to. Well, we’re sorry to tell you … but, there’s more.
And we’re not just talking about getting a condo insurance policy. We’re talking about what you need to do before you get that condo insurance policy.
A personal condo insurance policy should be customized to complement your condo association’s master insurance policy, as well as your condo bylaws. So before you secure a policy, there are some things you’ll need to look for in those condo documents.
We know first hand. At Berry Insurance, we’ve helped several clients decipher their lengthy, confusing condo documents and pull out the right information to help them pick the best insurance coverage for them. And some of us have even owned our own condos over the years. So we can help you!
The first thing you’re probably thinking is: what documents? For one, the master deed, which will have information about what is covered by the condo association’s master insurance policy. You’ll also need to review your condo associations trust documents, which will go over bylaws and indicate how you are responsible for common condo charges (more on that later).
If you do not have a copy of those documents, you can reach out to your condo association, or visit The Massachusetts Land Records website to get your condo bylaws.
Once you have them in hand, there are three main things you need to be on the lookout for. Let’s get into it.