Master Policy (Glossary Word)

A type of insurance policy secured by a condominium association to cover "common" areas such as landscaping, passageways, parking areas, amenities, basement elevator and walkways for both liability and physical damage.

Other users searching for also searched for some of the following glossary words and FAQs.

Glossary Words

• Master Bedroom
• Renter's Policy
• Condominium Unit Owners Policy
• Underwriting

FAQs

• Do I need a condominium policy if my condominium association has a master policy for the complex?