Call: 203-637-6655 or email – Kyle Shepard

If you have a client getting ready to close on a Co-op or Condo, they may have some questions about the type of insurance they need to purchase.

A closing attorney can usually help the buyer to understand what the by-laws state and do a review of the building’s master policy, but there are definite misconceptions as to what coverage most building’s master policies provide.

We have put together a list of items we find people generally do not realize are not covered.

  • Master policies typically do not provide coverage from the “walls in”. Walls in includes heating/cooling, electrical, plumbing  and their related fixtures
  • Flooring, ceiling/walls and interior construction
  • Kitchen cabinetry, counter tops and appliances
  • Anything permanently affixed within the unit, such as built ins and window treatments
  • If the unit has a roof deck, alterations to a terrace, balcony and windows are usually not covered by a master policy

Making sure your client has the proper insurance in place for their closing will be one more item to check off the closing to do list

If you need help sorting out new or existing coverage for your client’s property–contact Kyle at Shepard Insurance Group. He is an expert on Co-op and Condo insurance. – 203-637-6655


Leave a Comment