Uniform Condominium Act — Insurance

Beginning with the first unit sale to a non-declarant, the association must maintain: (1) property insurance on common elements against all risks of direct physical loss commonly insured against, minimum 80% of actual cash value (excluding land and foundations), and (2) liability insurance including medical payments in an amount determined by the board. For buildings with horizontal unit boundaries, property insurance must include units but need not cover owner-installed improvements. Policies must name each unit owner as insured, waive subrogation against owners, and prevent individual owner actions from voiding coverage. Proceeds go to insurance trustee or association (not mortgagees) and must be used first for repair/restoration.