Condo Association

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No two Colorado condo associations are the same. Working closely with an experienced agent is crucial to determine which coverages may provide the best protection against your organization’s risks and exposures.

J J Insurance is ready to help your Colorado condo or townhome association get property insurance tailored to your organization’s needs. Contact us today for a personalized quote.

Townhome and Condo Association Regulations In Denver

Denver townhome and condo associations are subject to Colorado’s laws dictating the type of insurance the association must maintain.

Colorado requires that condo and townhome associations maintain property insurance to cover common elements in an amount equal to the replacement cost of the property minus deductibles. Insuring finished interior surfaces inside units, including improvements made by homeowners, is not legally required. However, your agent may recommend purchasing more than the minimum required amount of condo and townhome insurance.

HOA Management In Denver

Homeowners associations (HOAs) are legally responsible for ensuring the buildings’ exterior. The condo or townhome association must secure appropriate condo association insurance and pay the premiums.

There are three major types of master insurance policies, including the following:

• Bare walls coverage may include coverage for your buildings’ exteriors, including the roof, walls and studs inside the building.
• Walls-in coverage may cover the condo’s exterior and interior features, including paint, flooring, built-in appliances, light fixtures and drywall.
• All-in coverage may cover everything listed above, plus any upgrades and enhancements homeowners make.

What Do Condo Association Insurance Policies Cover?

Condo association insurance coverage varies depending on the association’s needs and the coverage offered by its insurer. In general, condo association insurance may include the following:

• Liability protection may help cover medical expenses and legal fees related to third-party injuries that happen in common areas maintained by the association.
• Property coverage may help pay to repair or replace insured complex amenities, such as walkways and elevators.

If a covered accident or incident occurs, HOA management may be responsible for paying the policy’s deductibles and out-of-pocket expenses before insurance coverage kicks in.

Contact Us

Contact J J Insurance in Denver, Colorado, to start building your condo or townhome association’s custom insurance plan.