Master Policy

**What is a Master Policy?** The master policy, purchased by the condo association in Plainview, NY, ensures coverage for communal areas such as elevators, roofing systems, exterior walls, and shared amenities like gyms or pools. It also covers liability for injuries occurring on common property. Unit owners are typically required to have separate policies for their interior spaces and personal belongings.

**Why is the Master Policy Important in Plainview?** For condo owners in Plainview, understanding this policy is critical because it determines what risks the association assumes. A gap in coverage could leave residents liable for costly repairs after events like fire damage or structural issues. Lehmann Insurance advises Plainview associations to review coverage annually to align with property values and local risks, such as winter storm damage affecting roofs in older buildings.

**How Master Policies Work in NY** New York state mandates condo associations to maintain master policies with minimum liability limits. Coverage may include rebuilding costs, legal fees after a claim, and temporary relocation expenses if communal areas become uninhabitable. Deductibles for claims on shared property are paid by the association, though individual owners’ policies may cover personal losses in affected units.

**Local Relevance for Plainview Condos** Plainview’s unique risks—such as plumbing failures in older buildings or damage during heavy snowfall—affect policy requirements. Lehmann Insurance specializes in advising Plainview associations to factor these risks into coverage decisions. Nearby service areas like Hicksville or Jericho face similar challenges, but Plainview’s local building codes and historical property types necessitate tailored assessments.

**Distinguishing Master vs. Unit Coverage** The master policy does not replace individual unit policies, which must cover interior finishes (e.g., flooring), personal items, and liability for accidents in private areas. For example, if a tenant’s pipe bursts damaging adjacent units, the master policy may cover shared hallway repairs while individual policies address interior water damage.

**Key Considerations for Plainview Associations** Plainview condo boards must ensure policies address liability from amenities like parking structures, elevators, and landscaping. Lehmann Insurance advises specifying coverage for environmental hazards (e.g., mold) and cyber risks tied to shared systems. Annual reviews with a Plainview-based agent are essential for compliance and adequacy.