Plain-English meaning
An insurance policy purchased by a condo or homeowners association for property or liability interests described in that policy.
Why it matters
Its boundary determines which building parts the association or unit owner may need to insure.
Where you may see it
Association certificates, declarations, bylaws, resale packages, and loss-assessment notices.
What to verify
Property boundary, deductible, exclusions, unit-owner responsibility, valuation, and current effective dates.
Do not confuse it with
An HO-6 unit policy, which protects the individual unit owner's interests.
For policy-specific meaning, read the definition and related provision in the issued policy.