California’s property insurance market has tightened in recent years, and some condo associations in Murrieta, Temecula, and the surrounding hills have had trouble finding a standard master policy. When that happens, an association may turn to the California FAIR Plan, the state’s insurer of last resort. That switch can quietly change what unit owners need from their own condo policy.<\/p>\n
| Coverage Area<\/th>\n | Typical Standard Master Policy<\/th>\n | Typical FAIR Plan Approach<\/th>\n<\/tr>\n<\/thead>\n |
|---|---|---|
| Fire and smoke<\/td>\n | Usually included<\/td>\n | The core of FAIR Plan coverage<\/td>\n<\/tr>\n |
| Water damage, theft, and other perils<\/td>\n | Often included, depending on the form<\/td>\n | Often limited or not included<\/td>\n<\/tr>\n |
| Association liability<\/td>\n | Often part of the package<\/td>\n | Usually needs to be purchased separately<\/td>\n<\/tr>\n |
| Gaps in coverage<\/td>\n | Fewer, depending on the policy<\/td>\n | Often filled with a difference in conditions (DIC) policy<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Every association’s setup is different, so reviewing the actual policies matters more than general comparisons.<\/p>\n What This Can Mean for Unit Owners<\/h2>\n |