Condo Association Insurance in Arizona

condo association insurance policy/condo master insuranse/what does a condo association insurance policy cover in Arizona

Ganyo Insurance Agency provides condo association insurance/ condo master insurance policy in Arizona. If you have a question “what does a condo association insurance policy cover”, call Greg Ganyo. He has 36 years of experience in it and can answer all your questions.

It is very important with associations to understand what each side is responsible for. The unit owner must purchase coverage to fill in the gaps that the Condo Association Insurance (Condo Master Insurance Policy) may leave for him. The master policy must follow the definition of the association declarations and secure coverage as described within it.

Shared Spaces and Buildings

A Condo Association Insurance (condo master insurance policy) covers places which can be frequently used by many of the unit owners also called common area. These can consist of areas including storage, parks, and pools, as well as a gym, office, and entry areas. Also, it includes parking lots, greenways, and walkways.

Structure of Condo Units

The most important definition to be aware of is where the association responsibility lies and where the condo’s unit owners insurance begins. Like with any insurance coverage begins. Definitions vary from one association to another.

Some Options what does Condo Association Insurance Policy cover

  • Building Coverage. Protects the building or anything attached to it like fixtures, flooring, and cabinets, as well as any common buildings.
  • Backup of Sewer and Drain. Covers accidental direct physical loss caused by a covered back up to the business personal property.
  • Comprehensive General Liability – Compensates against legal liability caused by bodily injury, property damage, personal injury, and advertising injury to others.
  • Directors and Officers Liability – Safeguards members of the association board against claims alleging wrongful acts in carrying out their duties.
  • Ordinance and Law. Puts forward the cover for the increased cost to repair or rebuild due to increased cost due to the enforcement of municipal laws or ordinances regulating the construction or repair of damaged buildings caused by an insured loss.
  • Inflation Coverage – Automatically enhances the amount of insurance on your buildings and association’s personal property to help keep pace with inflation.
  • Loss of Income and Extra Expense – It covers up to 12 months of lost income if your business activities are stopped due to an accidental direct physical loss covered by the policy.
  • Replacement Cost Claim Settlement – Claim payments may be based on the cost of replacing your damaged property, subject to policy conditions or provisions.

Current programs available:

  • Residential Condominium Association Package & Umbrella
  • Homeowners’ Association Common Area Package & Umbrella
  • Commercial or Office Condominium Association Package & Umbrella
  •  The difference in Conditions Wrap – Basic Form Wrap Around
  • Mold & Sewer Backup
  • Monoline Directors & Officers/EPLI
  • Monoline Crime
  • Equipment Breakdown
  • Pool & Spa Contamination including Environmental Impairment Liability
  •  Golf Course and Country Club Package
  • Workers Compensation
  • Cyber Liability

Comprehensive Condo Association Insurance Helps Condo Unit Owners

To avoid these issues, you have to be your own advocate. Become familiar with your insurance policy and mortgage requirements. If you are required to but do not have a condo insurance policy, you could lose everything, including your mortgage.  For more data and information about a condo master insurance policy works, either as a condo association or individual condo unit owner, contact the Ganyo Insurance Agency today, that way you can have all that it takes to have the best insurance cover as per your needs.

Our agency and agents licensed by the Arizona Department of Insurance.


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