What’s new?
Starting on October, 1, 2020, the Maryland Condominium Act will allow associations to bill back the Master Policy deductible – up to $10,000 – to the unit owner where the claim originated. Under the current Act, the unit owner could be responsible for a maximum of $5000.
What does that mean for your unit owners, tenants and association members?
With recent economic turbulence and record-breaking unemployment, people unaware of this new exposure may be underinsured, and financially unprepared to pay the additional $5,000 out-of-pocket.
Keep your members informed!
We know you’re always looking out for their best interests, so we prepared a flyer that explains the coming deductible change. You can download the Maryland Deductible Rules PDF to share.
You’re not just alerting them to the possible risk – you’re offering a solution.
We’ve got your back.
One of the benefits of working with an insurance agent you trust is peace of mind. We’re looking out for you, and for your members. When we see a new risk up ahead – like this new deductible rule – we work with you and your entire team to protect what matters most.
Call us today. Our team is ready to help you and your members.
