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Who is responsible for paying the condo association’s master policy deductible?

Under law, your condo association must have a master insurance policy that covers the buildings and common property on the land. While it is clear who pays the premiums for this policy, it can be less clear who pays the deductible in the event of property damage. In most cases, who pays for the deductible depends upon how the damage was caused and what exactly was damaged. Here are the three most common outcomes:

  • You may be responsible for the entire deductible. If the property damage only affects your unit, and if the property damage may have been your fault, you may be asked to pay the entire deductible for your insurance claim. Likewise, if only some of the units were damaged, you may split the deductible among the affected parties.
  • You may be responsible for part of the deductible. If a common area of the property was damaged, such as the pool area, a garage, or an outdoor area, the deductible may be split among all unit owners. This may also be the case if only some units are damaged, but the damage was not due to negligence.
  • Your condo association may pay the deductible. Some condo associations collect money for insurance deductibles as part of their regular fees, while others may have a slush fund that can be used to cover the cost of the deductible. Be sure to ask your condo association if such a fund exists.

Do you have a question about a condo insurance claim? Our attorneys are here to help. Call us or email us today to get immediate help.

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