Brownstone specializes in master policy insurance for condo and apartment buildings. We insure properties throughout Massachusetts, Rhode Island and Connecticut, and can insure buildings with up to 100 units.
We can insure any type of building with 2-100 units. For example:
- Condo Buildings - Our specialty is renovated condominiums that show pride of ownership.
- Apartments Buildings - Owners of apartment buildings have relied on Brownstone for years.
- Multi-family Homes - Duplexes, triplexes and properties with 2 or more units/owners are accepted.
A master policy covers common areas, liability and other risks that personal insurance does not cover.
Brownstone Insurance provides master policy coverage for properties with multiple owners. This coverage includes common areas, liability, Director's and Officer's coverage and can include several other optional coverages. This policy covers the building as a whole, while individual unit owners or renters should have a homeowner's or renter's policy.
Who needs Master Insurance?
Condominium Associations
Condominium associations need a master policy to cover their common risks. An individual unit owner needs a homeowner's policy to cover their personal property, but the condo association needs this master policy to cover building liability, common areas and much more.
Apartment Building Owners
Owners of apartment buildings also need a master policy to cover the common areas of the property, liability, loss of rents, etc. Renters may purchase their own renter's policy to protect their personal property, but the building owner is in need of a master policy for the general coverage of the building.
Residents in a Multi-Family Home
Duplexes, triplexes and row-houses are examples of multi-family homes that would be in need of a master policy. A common type of property in the Boston area is a split-entry duplex. Again, each unit owner would have a homeowner's policy for their personal property, but the building as a whole would need master policy coverage.
Property Managers
Property managers regularly work directly with Brownstone to insure the properties they manage, including condos, apartments and townhouses.
Any property with 2 or more owners needs a Master Policy
In general, any property with 2 or more units/owners needs a master policy. In other words, any property other than a single-family home needs a habitational master insurance policy.
Still have questions or prefer to get a quote over the phone? You can take advantage our of Live Chat feature located in the left menu column or call us at (617) 236-6400.
Are you in need of condo unit owner's insurance or renter's insurance? Visit our affiliate, Murphy & Jordan Insurance.
