Glossary
What is a master policy?
The association's insurance on the common elements and, in many condominiums, the buildings themselves. Owners carry their own policy for what the master policy leaves out.
Also called master insurance policy, association insurance.
In Havn
The master policy and its certificate are filed in the community library with their dates and attached to resale packages and lender questionnaires automatically.
Document managementA master policy covers the property the association is responsible for: common areas, structures, and in condominiums the building as a whole. How far into each unit it reaches is set by the declaration and the policy form, described as bare walls, walls-in, or all-in. An owner's own policy, an HO-6 for a condominium unit, covers the rest and the owner's liability.
Lenders require proof of the master policy before closing, and a condo questionnaire asks for its limits and deductible. The certificate of insurance belongs in the resale package.
Keep Reading
Guides
- HOA guidesHow to run meetings, votes, budgets, reserves, collections, and violations, step by step.
Laws and Documents
- Condo questionnairesLender questionnaires answered from the records, including the Fannie Mae form.
- HOA laws by stateEvery state's association statutes and resale rules on one map.
See how Havn handles it with your own community.
HOA management software with a homeowner portal owners actually use. Resale documents are included; the requester pays for each one.